Scores of Americans quit job after making profit from cryptocurrency


TL;DR Breakdown

  • Americans quit job after making a lot of profit from crypto.
  • More Americans expected to quit after surge in crypto prices.
  • Millennials more open to crypto than adult, survey reveals.

Several Americans have reportedly quit their jobs over the past 12 months after making so much profit from cryptocurrencies. This is according to data from research company Civic science.

The firm, after its research, gathered that roughly four percent of US residents resigned from their jobs over the past 12 months as they have made sufficient profits from cryptocurrency investments. It is worthy to note that majority of those who quit their jobs are low-income earners who make less than $50,000 per annum.

More Americans to quit job in future

The poll reveals that more than 7 percent of respondents know somebody who has already quit their job after accumulating a lot from cryptocurrencies.

Of the four percent that quit their jobs in the past 12 months, only eight percent of that number earns above $150,000 per annum quit. Others earn less than $50,000 yearly.

Mark Cuban shared the result of the poll and hinted that the numbers could only go up, especially with the rally most crypto coin has seen.

Another bizarre revelation from the research is that active or occasional traders on the stock market are significantly more likely to have invested in digital assets.

Civic Science also asked who crypto investors are and those who intend to join the frenzy in its research. The purpose was to explain why they are into crypto investments. 28 percent responded that they are in for “long-term growth investment,” while 23% said they expect short-term gains.

Other major reasons were “independence from government involvement” with 12% and “hedge against adverse economic conditions,” accumulating 11% of the votes.

Ultimately, younger people have shown more acceptance towards Bitcoin than altcoins. The market looks more promising to those below 35-years-old.

Millennials more open to crypto in America

A separate survey by Bakkt, a crypto platform, reveals that younger Americans are self-aware and invest more significantly in the digital asset market than the older age groups.

Most Millenials, according to the research, are the most active group to operate with digital assets. Nearly 50 percent of them responded that they had allocated at least 1/4 of their portfolios in cryptocurrencies. Furthermore, 30 percent have staked 50 percent or more.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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