4% of Americans quit their jobs after investing in cryptocurrencies
In early November, the research arm of Civic Science published a poll, which showed that more Americans are ready to quit their jobs after their cryptocurrency investments are showing explosive growth.
In October 2021, representatives of Civic Science conducted a survey among 6,741 respondents with the question: "Have you or someone you know quit in the past 12 months, thanks to the financial freedom gained through investments in cryptocurrencies?"
Of those surveyed, 4% of respondents said they decided to quit their hateful job after cryptocurrencies showed rapid growth. Another 7% reported that they know someone who quit his job after the growth of stock quotes of the main crypto assets, in which they previously invested their money.
This news was pleasantly surprised by the billionaire and owner of the Dallas Mavericks team, Mark Cuban, who commented on it on his personal Twitter account. He also noted that some people quit even before the long bull run began in the digital currency market.
Wow 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. And this was BEFORE the current runup @cnbc @elerianm @novogratz @Austan_Goolsbee https://t.co/0K5ozoOw1j— Mark Cuban (@mcuban) November 3, 2021
It turned out that among those who were interested in investing in a new asset class, there were many people who had previously participated in trading on traditional exchanges. Of the 2,943 respondents, 38% were active exchange traders who decided to invest in cryptocurrencies.
At the same time, 28% of respondents said that they are investing money for the purpose of long-term investments, 23% said that they are most interested in the short-term prospects of earnings, 11% described their crypto investments as “protection from inflation”. Another 12% of the total number of respondents said they wanted to reduce their “dependence on the authorities”.
According to Civic Science, 51% of those surveyed believe that cryptocurrencies operate by almost the same rules as traditional stocks on exchanges. And 60% of respondents shared their joy, saying that their income this year, even after leaving work, remained at the same level, or even increased.
Note that 2/3 of Civic Science respondents had an annual income of $50,000, 27% less than $25,000, 15% from $50,000 to $75,000, 13% from $75,000 to $150,000, and another 8% of those surveyed reported an annual income of $150,000 or more.
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