Black Friday Spending Trends: Investing in Bitcoin Could Have More Than Doubled Your Returns

Black Friday is the day after Thanksgiving in the U.S. It’s known for great discounts, big sales, and a rush of shoppers. This day marks the start of the Christmas shopping season.

Over time, Black Friday has turned into a longer event. Now, we also have “Cyber Monday,” which is the online version of Black Friday.

Sales during this time are often seen as indicators of the country’s economic health. They reflect how much the average American can spend.

According to a Deloitte analysis from October, the average expected spending per consumer from Black Friday to Cyber Monday has increased. It’s grown at a rate of 9.4% each year from 2019 to 2024.

Last year, shoppers spent about $500 on average. This year, that number jumped to $567, a 13% increase.

For 2023, the average spending is projected to rise again, reaching $650. That’s a 15% increase from last year.

Now, let’s think about a different approach. What if instead of shopping, you invested that money in Bitcoin (BTC/USD)?

Picture this: On Black Friday 2023, you chose to invest $567 in Bitcoin instead of hitting the stores.

On November 24, 2023, the price of one Bitcoin was $37,720.28. With your $567, you would have bought about 0.01503 Bitcoin.

Fast forward to now, and Bitcoin’s price has skyrocketed to $95,916.62. That means your investment would be worth $1,441.79 today. That’s a whopping 154% increase!

This shows how your purchasing power could have more than doubled, far exceeding the average spending estimate of $650.

As of now, Bitcoin is trading at $2.86, up by 13.51% in the last 24 hours, according to Benzinga Pro.