Now just a quick disclaimer, I am not a financial guru. I know nothing about investing in Bitcoin, or how they work. The purpose of this article is to simply share what I have seen elsewhere and thought it was interesting, so I wanted to share with my readers as well.
We all remember the Bitcoin craze of 2017, where it seemed like Bitcoin would keep rising forever. Then after falling for just over a few years, Bitcoin’s value has once again surged up in 2020. But there is another asset whose value has been driven up recently: Cockapoos.
The value of Bitcoin has increased by nearly 250% this year. The price of a Yorkshire terrier has increased by a similar amount in that time. Which is the better investment? THE DOG, OF COURSE!!!!!!
Lockdown Loneliness
The increase in the price of dogs is down to simple economics. The demand for them has simply skyrocketed, while the supply couldn’t keep up. Pets made the perfect companion for the millions of individuals who were forced to stay at home. It wasn’t just dogs either, there was increased demand for other pets like cats, hamsters, and guinea pigs.
According to Pets4Homes (platform connecting breeders and shelters with wannabe dog owners), there were nearly 400 interested buyers for every pet advertised. A relatively stable supply allowed the breeders to simply charge more for the animals. The average price of a dog increased by 131% compared to the year before. Similarly, the price of a cat increased by 42% on average. Despite the shortage of animals, some desperate owners were willing to pay the higher price.
Not Just The Upfront Cost
However, as a potential dog owner, there are other costs that you would need to consider aside from the upfront price tag. There is an ongoing cost associated with looking after them as well. Food, accessories and toys are just some of the costs that you need to consider before deciding whether or not to purchase a pet. Dogs typically have a lifetime ownership cost of nearly $25,000 USD, while it takes approximately $12,000 USD to look after a cat over its lifetime.
What’s The Return On Investment?
We can all agree that a dog’s love (or any animal really) is priceless. But given the significant upfront cost and the high cost of ownership, what are some of the other benefits? Well, pets are really good at providing companionship and a sense of closeness, something we are sorely lacking during the lockdowns. (Click here for more benefits of owning a dog).
And it’s not just dogs and cats either. Owning rabbits, horses, rodents, and even reptiles (yes, reptiles) have been found to possess the ability to ease our feelings of loneliness.
Pets are really good at providing emotional support too. While they might not speak the same language as us (or maybe they do!), they have an uncanny ability to read us and sense our emotional states.
So what do you think is the better investment? Dogs, or Bitcoin??? Let us know below!!!
