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Image credit Freepik – 2023-02-10T170854.963
By Rajagopal Menon
Valentine’s Day is just around the corner and it’s time to start thinking about the perfect present. It can be a challenge to find the right gift that perfectly captures your love and appreciation. Never has the pressure to find the perfect gift been greater. Valentine’s Day has devolved into an orgy of consumption, where people feel pressured to buy gifts and participate in elaborate displays of affection. This commodification of love has created a culture of consumerism, where people feel the need to spend money on gifts to prove their love and affection to their partner.
Gifts given may not always have a long-lasting impact or hold sentimental value. Toys break, clothes fade and the saying goes, chocolates and wine last a moment on the lips and are forever on the hips. These gifts may bring a momentary feeling of happiness, but they cannot truly represent the love and affection one has for their partner. To make the most of gift-giving, it is important to consider gifts that hold deeper meaning and have a lasting impact. The goal should be to give something that holds significance and represents love and commitment. By choosing gifts that hold more value, one can create a lasting memory and truly show their love in a meaningful way.
The diamond corporation De Beers created one of the most effective marketing efforts ever. De Beers promoted diamond engagement rings as symbols of eternal love and commitment. Diamonds are associated with love and commitment in popular culture. To this day, diamond engagement rings are a common rite of passage for many couples. Unfortunately, diamonds have little intrinsic value, its value is largely based on perception, demand, and scarcity. The cartel has managed to maintain these perceptions through careful marketing and strategic supply control.
Gifts that appreciate over time are the best, as they symbolize the love that endures. Stocks, gold, and now Bitcoin have proven to be great gifts as they not only show affection but also offer a long-term return on investment. Over the last decade, stocks, gold, and Bitcoin have all seen substantial growth, providing good returns for investors. The value of these assets appreciated (pun intended), demonstrating that the love that is represented by gifting these assets is truly ageless. Gold has provided a compounded annual return of 12.2% during the last five years, whereas the BSE SENSEX has increased by more than 60%. On December 31, 2016, a single bitcoin was valued at $960. It is currently hanging around $24000. For those five years, the ROI on Bitcoin would be 2400%.
Bitcoin has thus provided returns that are unmatched by any other asset class. It has tremendous potential for growth and can be seen as a way to invest in the future. Bitcoin is a new and innovative technology and has a limited supply of 21 million coins, making it a scarce asset, and its value has grown rapidly since its inception. Gifting Bitcoin as a Valentine’s Day present can be a unique and meaningful gesture for a loved one.
In conclusion, Valentine’s Day has become commercialized and gifts are often seen as a way to prove love. The best gifts are those that hold sentimental value and have a lasting impact. Diamonds have become a popular symbol of love and commitment, but their value is largely based on perception. Stocks, gold, and Bitcoin have all seen significant growth and can provide a long-term return on investment, making them meaningful and unique gifts for Valentine’s Day. Bitcoin, in particular, is a scarce asset with potential for growth and is a great way to invest in the future and can be the best gift for your valentine.
The author is vice-president, WazirX