Where Did a 100,000 TL Investment Yield the Highest Returns in 2024? Gold, Dollar, Euro, Stocks, or Cryptocurrency?

At the beginning of 2024, investments made with 100,000 TL across different assets, including gold, dollar, euro, the stock market, and cryptocurrencies, generated varying levels of returns. So, which investment performed the best?

By the end of 2024, due to inflation, the purchasing power of 100,000 TL had dropped to about 55,000 TL. In this high inflation environment in Turkey, how did investors preserve their wealth or generate profits?

Dollar (118,181 TL)

At the start of 2024, the USD/TRY exchange rate was 29.7, meaning that 100,000 TL could buy 3,367 US dollars. By the end of the year, the exchange rate increased to 35.1.
The 3,367 US dollars purchased at the beginning of the year became worth 118,181 TL, yielding a profit of 18,181 TL.

Euro (111,922 TL)

At the beginning of 2024, the EUR/TRY exchange rate was 32.7, so 100,000 TL could buy 3,058 euros. By the end of the year, the EUR/TRY rate had increased to 36.6.
The euros purchased at the start of the year were worth 111,922 TL at the end of 2024, giving a profit of 11,922 TL.

Borsa Istanbul BIST 100 Index (128,940 TL)

The BIST 100 index started the year at 7,624 points and reached highs of around 11,000 points. By the end of 2024, the index closed at 9,830 points, resulting in a 28.94% increase.
A 100,000 TL investment in the BIST 100 index at the beginning of the year would have earned approximately 28,940 TL.

Gold (151,266 TL)

At the beginning of 2024, the price of gram gold was 1,961 TL. With 100,000 TL, about 51 grams of gold could be bought. By the end of the year, the price of gram gold rose to 2,966 TL.
The 51 grams of gold purchased at the beginning of the year would be worth 151,266 TL at the end of 2024, yielding a profit of 51,266 TL.

Bitcoin (253,000 TL)

2024 was a strong year for cryptocurrencies, especially Bitcoin. With Donald Trump’s election as US president, Bitcoin set record after record, breaking the $100,000 mark. By the end of 2024, Bitcoin closed at around $93,000.
A 100,000 TL investment in Bitcoin at the beginning of the year, taking into account the rise in the dollar exchange rate, would have grown to 253,000 TL, yielding a 153% return.

Dogecoin (410,000 TL)

Dogecoin, supported by Elon Musk, saw explosive growth after the US elections. With Musk’s backing, Dogecoin saw its value skyrocket.
With exchange rate fluctuations factored in, Dogecoin delivered a 310% return in 2024. A 100,000 TL investment in Dogecoin would have grown to 410,000 TL by the end of the year.

Conclusion

While different investment tools performed well, Dogecoin led the way with the highest return, followed by Bitcoin. Gold also offered strong returns, significantly outperforming traditional investments like the stock market, dollar, and euro in a year of high inflation.

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