Brazil has a national holiday called Children's Day, where doting parents shower their kids with presents.
Back in 2017, a crypto entrepreneur wanted to do something special for his newborn daughter.
João Canhada decided to purchase a whole Bitcoin — worth about $915 at the time.
But according to Cointelegraph, this suave investment is now paying dividends… and at the time of writing, its value has surged by a whopping 6,708%.
Brazil has a national holiday called Children’s Day, where doting parents traditionally shower their kids with presents. In recent years, some tech-savvy moms and dads have opted to invest in cryptocurrencies instead.
However, some experts have encouraged parents to opt for lower-risk investments instead — and to only spend what they can afford.
Children and Crypto
Of course, this isn’t the first time that children have gained exposure to cryptocurrencies at a very tender age.
Back in February, Elon Musk announced that he had bought some Dogecoin for his baby son, enabling him to become a “toddler hodler.”
Proclamations like this helped DOGE to surge as a result.
Billionaire Mark Cuban — another Dogecoin enthusiast who ended up going toe-to-toe with Bitcoin maximalists in a Twitter Spaces conversation over the weekend — has also bought the joke cryptocurrency for his son.
During a conversation on Clubhouse at the time, he described DOGE as “the best entertainment bang for your buck available,” adding:
“I bought a few dollars for my son and we watch it and discuss all its price movements when they occur. It's fun, it’s exciting and educational for him. Some of his friends have gotten into it, as well.”
Cuban, who also appears as an investor on Shark Tank, has regularly used the analogy of describing DOGE as offering “a better chance of winning than a lottery ticket.”
But it’s very possible that his son may not be as enthralled by Dogecoin’s performance right now. Currently trading at $0.24, it’s lost two-thirds of its value since reaching highs of $0.73 back in May.
While the likes of BTC and ETH have posted double-digit gains over the past seven days, DOGE’s performance during this period comes in at a much more modest 2.12%.
