4% of Americans Have Quit Their Jobs After Profiting from Cryptocurrency Investments: Survey

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Data from the research com­pa­ny Civic Sci­ence revealed that rough­ly 4% of US res­i­dents have resigned from their jobs over the past 12 months as they have made suf­fi­cient prof­its from cryp­tocur­ren­cy invest­ments. Inter­est­ing­ly, the major­i­ty were low-paid work­ers with annu­al salaries of less than $50,000.

Crypto Gave Them Reason Not to Work

The poll con­duct­ed by the con­sumer intel­li­gence plat­form – Civic Sci­ence – added that a fur­ther 7% of the par­tic­i­pants know some­one who has quit their job because they have accu­mu­lat­ed cryp­tocur­ren­cy profits.

When tak­ing a clos­er look, the large pro­por­tion of the indi­vid­u­als tak­ing that deci­sion are those in the low­est income brack­ets since 64% were peo­ple receiv­ing not more than $50,000 per year. On the oth­er hand, only 8% of those earn­ing over $150,000 have done that.

The Amer­i­can bil­lion­aire entre­pre­neur – Mark Cuban – shared the results on his Twit­ter account. He hint­ed that this per­cent­age might increase in the future due to the recent ral­ly of most cryptocurrencies.

The sur­vey fur­ther showed that active or occa­sion­al traders on the stock mar­ket are sig­nif­i­cant­ly more like­ly to have invest­ed in dig­i­tal assets.

Sub­se­quent­ly, Civic Sci­ence asked those who are cryp­to investors and those will­ing to become to explain why they are deal­ing with the asset class. The top answer with 28% was “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.

Not sur­pris­ing­ly, the younger age groups have demon­strat­ed much more accep­tance towards bit­coin and the alt­coins. To those under 35-years-old, the dig­i­tal asset mar­ket looks rather promis­ing since 36% of them expect their cryp­tocur­ren­cy invest­ments to make them wealth­i­er than their par­ents. This per­cent­age dropped sharply to 6% when speak­ing of peo­ple above 55-years-old.

American Youngsters And Their Approach Towards Crypto

Accord­ing to anoth­er sur­vey, around 40% of Amer­i­cans under 29 years old feel con­fi­dent when invest­ing in cryp­tocur­ren­cies. At the same time, the elder­ly expressed almost no desire to enter the market.

Mil­len­ni­als, par­tic­u­lar­ly those who are mil­lion­aires, are the most active group to oper­ate with the asset class. Near­ly 50% of them respond­ed that they had allo­cat­ed at least 1/4 of their port­fo­lios in cryp­tocur­ren­cies. Fur­ther­more, 30% have staked 50% or more.

George Walper – Pres­i­dent of the con­sult­ing firm Spec­trem Group – explained why the younger gen­er­a­tions find the mar­ket so tempting:

“The younger investors jumped on it ear­ly when it was not as well known. They were more intel­lec­tu­al­ly engaged with the idea even though it was new.”

The old­er investors and the boomers can not under­stand whether invest­ing in dig­i­tal cur­ren­cies is legit. As such, they are “fur­ther behind on the under­stand­ing,” Walper opined.

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