Cryptocurrency investments have gotten a lot of attention lately, due in part to the huge returns that some, like Ethereum (CRYPTO: ETH), have generated.
What is Ethereum? It is a blockchain technology platform that allows software developers and programmers to create applications that can be transacted using a token called Ether. Among the items that are traded using Ether are NFTs, or non-fungible tokens, as well as decentralized finance applications. Ethereum has a market cap of about $516 billion, making it the second-largest cryptocurrency behind Bitcoin.
In this relatively new realm of cryptocurrency, Ethereum is certainly one of the mainstream options. A recent survey by Bankrate found that 49% of Millennials, 37% of Gen Xers, and 22% of Baby Boomers are comfortable investing in crypto assets. In fact, a growing number of people are considering crypto assets in their retirement portfolios. Should Ethereum be part of your investment strategy – and could it help you retire early?
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Meteoric rise
Since Ethereum launched in 2015, it has been on a rocket ship. When it debuted in August 2015, one Ether token was trading at a value of $2.77 – and that immediately dropped to $0.75 the next day. Today, one Ether token is valued at over $4,600.
So, if you invested $100 in Ethereum back in August of 2015 at $0.75 per token, it would have bought you about 134 tokens. Those 134 tokens would be worth…
