Source: AdobeStock / jaykoppelman
Cryptoassets are a growing source of financial and professional freedom in the United States, providing life-changing income for a growing number of people, according to a recent survey by the Consumer Trend Intelligence provider Political Science.
The survey gathered nearly 7,000 responses from various groups between April and November 2021, weighted according to the structure of the U.S. population as per the country’s census data, the company said.
11% of respondents said they personally quit their job or know someone who has because of their investments in crypto like Bitcoin (BTC) and Ethereum (ETH), said CivicScience, of which 4% of respondents said to themselves and 7% said they knew someone who did this.
Source: CivicScience
the Dallas Mavericks Owner Mark Cuban visited Twitter to comment on the survey results and to say that “[n]ow we know why so many people give up badly paid jobs. And that was BEFORE the current attempt. “
Among those who admit they quit their jobs because of their successful investments in crypto assets, the largest 37% said their annual crypto-based sales were between $ 25,001 and $ 50,000.
For 27%, sales were less than $ 25,000 per year. Another 15% of declared cryptocurrencies brought them a turnover of 50,001-75,000 USD per year. For 13%, that revenue was between $ 75,001 and $ 150,000.
The top 8% of crypto investors said they make $ 150,000 annually due to their successful investments.
Within the same revenue ranges, between 19% (among those who make $ 25,001 to $ 50,000 in crypto) and 42% (among those who make more than $ 150,000 in crypto) admit that they are now richer than them because of their crypto investments were last year.
The survey also identified a link between investing in the stock market and in cryptocurrencies.
“Respondents who are actively or occasionally active on the stock exchange have invested significantly more often in cryptocurrency. So, while heavier stock investors may not quit their jobs because of crypto mining, it is they who are driving much of the market, ”said CivicScience.
When it comes to their investments in crypto, the largest proportion of investors, 28%, admit they see their exposure as a long-term growth investment. Another 23% said crypto is a short-term investment, while 16% use it for transactions. Another 11% see such investments as a hedge against various adverse economic conditions and 12% see them as a means of securing independence from the US government.
Many respondents in different age groups also find that they may be richer than their parents because of their crypto investments.
Source: Citizenship
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Learn more:
– Almost a third of professional investors avoid advisors to buy crypto – survey
– More US crypto investors for Hodl than short term gains
– Almost every second respondent plans to use crypto for payments in 2 years – survey
– European, Asian investors drive Bitcoin and Ethereum investments – Survey
– Lack of knowledge is more important than volatility for crypto newbies
– Estimated number of crypto users reaches 221 million, spurred on by altcoins
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