More Americans quit their jobs, cite crypto assets’ ‘financial freedom’ – survey

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(Kitco News) More Americans are quitting their jobs because they cite the “financial freedom” gained through their crypto investments, according to a recent survey.

A Civic Science poll showed that 4% of 6,471 people polled quit their jobs in the past 12 months, citing “financial freedom” because of their crypto investments.

Another 7% of respondents replied that they knew someone who had quit their job for this specific reason.

The survey was released on November 1 after interviewing Americans 18 or older in October.

Exploring the data, Civic looked at the annual income of those who quit their jobs. The survey found that the majority of those who quit were in the lowest income brackets – $ 50,000 a year or less.

“This data implies that crypto investments may have provided life-changing levels of income for some, while the wealthiest crypto owners use it more as another form of asset diversification rather than a source of income. income. And other data makes this point clear, “the survey mentioned.

Here is the link to the full investigation.

Billionaire investor and Dallas Mavericks owner Mark Cuban responded to the data by tweeting:

“Wow, 4% of people in the US quit their jobs because of Crypto earnings, and the vast majority made less than 50,000. Now we know why so many people quit low-paying jobs. ‘was BEFORE the current ramp-up. “

Then he clarified, “I should have said, 4% of the workforce, or about 6 million people.

MicroStrategy CEO Michael Saylor also added, “If you build a portfolio of scarce and desirable assets, you can navigate financial freedom fueled by the winds of inflation. “

Federal Reserve Chairman Jerome Powell spent much of his press conference on Wednesday talking about the jobs problem in the United States, noting that the economy is still far from the jobs target. maximum of the central bank.

“Inflation has been higher than expected. Bottlenecks have been more persistent and are set to persist until next year. I don’t think we are late. Politics are well positioned for it. face the range of plausible outcomes. It will be premature to raise rates today. We want to see the labor market heal further, “Powell said at a conference following the rate announcement. Fed interest.

Powell also pointed out that employers are still having difficulty filling job openings. And that “people are quitting their jobs at record numbers, but many are returning to higher paying jobs.”

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. This is not a solicitation to trade in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.



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