Nearly two-thirds of respondents who quit their jobs after making life-changing profits from crypto found their total income was less than $50,000.
Analysis firm Civic Science released a survey (weighted based on US census data) on Nov. 1 that found that more than 4% of 6741 respondents aged 18 and over had quit their jobs in the past year. come because “Financial Freedom” Acquired by Investing in Crypto Assets
Civic then cites a 4% figure to data from 1,201 respondents, based on the annual income they quit their jobs due to crypto gains.
Nearly two-thirds of those quitting jobs earning less than $50,000 a year comprise 27% of those earning less than $25,000, while 37% earning a total between $25,000 and $50,000, including 15. % of crypto-related quitters earning between $50,000 and $75,000, 13% between $75,000 and $150,000, and 8% earning $150,000 or more.
According to the Civic report, you may have to listen with your ears. because he referenced the data from different time periods. and the number of different respondents In this context it is not clear what is. “Financial freedom” because Civic did not provide an explanation or information on how much crypto respondents made.
“This information implies that crypto investing may provide some life-changing levels of income. while wealthier crypto holders use it as another form of asset diversification rather than monetization,” Civic Science said.
Billionaire investor and crypto advocate Mark Cuban tweeted the survey link, saying:
“Wow, 4% of people in the US quit their jobs because they are paid for crypto. And most of them earn under 50k. Now we know why so many people quit low-paying jobs.”
Cuban refers to the phenomenon “big resignation” which meanslackImportant workforce in the United States due to cultural shifts of people who quit their jobs because of the global pandemic. bad wage and unfavorable working conditions
Another survey, with 17,699 responses between June 17 and October 27, 2021, found that 28% of the main reasons for investing in crypto are investments for long-term growth.
Another 23% comes from short-term investments. while only 16% are trying to use crypto as a payment method for “Easy, fast, and secure transactions,” indicating that crypto users prefer speculation over transaction assets.
“In other words More than half of the population (51%) think that crypto will function more or less. as a traditional stock.” Writes Civic
The survey also found that 11% of respondents aimed to prevent In the “bad economy,” 12% were looking for “freedom from government,” and 11% said “other.”