Crypto is Creating Newfound Wealth – and Job Freedom – for Many Americans
Around 4% of people in the USA have quit their jobs because of Crypto gains, and the vast majority made under 50k. Now we know why so many people quit low-paying jobs.
Whether you’ve invested in cryptocurrency, or understand what it is, there’s no denying that over the last year, it has demonstrated staying power. Bitcoin, for instance, as of the time of writing, is valued at over $67,000 U.S. dollars per individual Bitcoin, skyrocketing nearly 70% in value from just one month ago.
And while some preconceptions of cryptocurrency investors envisage young and tech-savvy individuals, possibly with anti-establishment mindsets, the bigger picture of crypto investors is a little more nuanced than that.
For instance, while crypto wealth is undoubtedly growing, that doesn’t necessarily mean any significant portion of people is quitting their jobs as a result. Eleven percent of the general population reports either having personally quit their jobs or knowing someone who has, as a result of their crypto investments.
This positive sentiment is largely driven by Gen Z and young Millennials, as respondents under 34 are more likely to think crypto is a way to surpass the levels of wealth afforded by their parents.
Ultimately, regulations and continued evolutions in fintech instruments will shift how crypto is used and perceived. But as of now, blockchain technology seems to have shredded off its anti-establishment roots, to be embraced by a diverse set of active stock traders and individuals with various levels of income.