160,000 Americans Quit Their Jobs After Finding 2021 Crypto Wealth

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Last Updated on 9 November 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Just as Bitcoin and Ethereum reaches new all time highs and world media will be filled with the new price levels on their front pages, we decided to have a long term look. In the midst of what is known as the ‘great resignation’, it becomes clear that many young Americans have quit their jobs in the past year because they found new wealth after investing in crypto.

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The great resignation

The pandemic has brought many unforeseen and unexpected situations for the Western world (Europe and North America), such as teleworking, ordering food online and an enlarging gig economy. Another thing that it’s had as a result is what is known as ‘the great resignation’ in the US mostly. Young people are quitting low paying jobs in record numbers. Apparently, some 4.3 million of them have so far done that this year, leaving employers at a loss to find low-skilled personnel for those openings.

According to a viral article in The Atlantic:

America’s quittin’ spirit was just getting started. In July, even more people left their job. In August, quitters set yet another record. That Great Resignation? It just keeps getting greater.

Some 4% of those ‘resigners’ (or 160,000) have explained that they’ve done so because they found wealth by investing in crypto. The incredible statistic was made public by billionaire Mark Cuban (the star from Shark Tank) last week. He called on employers to improve working conditions for young people as a result.

The study Crypto is Creating Newfound Wealth – and Job Freedom – for Many Americans by Civic Science has turned many heads since it was published at the beginning the of the month.

15% of Americans

Certainly the 4% result as a ‘Yes’ answer to the first question:

Have you, or someone you know, quit your / their job at some point over the last year due to financial freedom earned by investing in cryptocurrency? Was cause for quit some concern on Wall Street.

Furthermore, given that the study was taken at a time when Bitcoin traded above $60k and knowing that some 15% of Americans have crypto investments (and most of them are millennials), it is becoming clear that Bitcoin and Ethereum have a long term future (in that part of the world at least).