MENU

These 2 cryptocurrencies have smashed Bitcoin’s returns in 2017

Cryptocurrencies have taken the world by storm and chief among them is bitcoin, which had the first mover advantage and is the world’s largest cryptocurrency with a ‘market cap’ of USD$278.9 billion.

Its performance in 2017 has been nothing short of breathtaking since starting the year at a price of US$997 and recently trading at US$16,514. That’s a phenomenal 1,556% increase (over 15 times your money!).

Its not everyday that you can find a financial instrument that can beat that sort of return but here are two cryptocurrencies that have done exactly that:

  • Ethereum which is the second-largest cryptocurrency with a market cap of USD$45 billion is up 4,266% (42 times your money) having started the year at US$10.72 and recently trading at US$469.
  • Litecoin is up over 3,000% (30 times your money) this year having started the year at US$4.33 and recently trading at US$163. Litecoin has a market cap of nearly US$9 billion.

To put that into context, the S&P 500 is up 17% this year while Apple, Amazon and Facebook are all up more than 50% this year alone. Locally, Kogan.com Ltd (ASX: KGN) (up 237%) and the a2 Milk Company Ltd (Australia) (ASX: A2M) (up 208%) have done very well, whilst the ASX 200 has been a relative under performer with an 8% increase over the year.

The ASX 200 was dragged down by stocks such as Retail Food Group Limited (ASX: RFG) and Mayne Pharma Group Ltd (ASX: MYX) which dropped by more than 50%.

Foolish takeaway

  • Think beyond the local share market. The investment universe is huge and there is a world full of opportunities out there.
  • Indexing doesn’t give the best results. Whilst good for low cost diversification and useful for investors who do not have the time to research investment ideas, indexing (by definition) will not provide the best performance.
  • Cryptocurrencies are like Tech stocks in the ’90s. The technology is here to stay, it will likely get bigger but there will be winners and losers. One just hopes we haven’t reached the point of irrational exuberance.

Bill Gates Says This Could Be Worth “10 Microsofts”

If You Missed Investing In Microsoft in 1996 – Read This

I can’t believe so many investors haven’t heard about something Microsoft founder Bill Gates told a group of college students in 2004.

This could be your chance to get in on the ground floor!

Click here to discover more!

Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can follow Kevin on Twitter @KevinGandiya.

The Motley Fool Australia owns shares of A2 Milk and Retail Food Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.