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Survey: 1 in 25 Americans quit job due to profits on cryptocurrency

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by COINS NEWS 254 Views

Survey: 1 in 25 Americans quit job due to profits on cryptocurrency

Would you stop working if you could live off the profits of crypto? In a survey of Americans, 4% of those surveyed responded that they stopped working because of profits gained from crypto.

1 in 25 quit

Granted this question of the survey was completed by only 6741 respondents, so it is not completely representative. The results of the survey were shared on November 1 and Civic Science asked the questions in October, this month the bitcoin price reached a new all time high.

https://preview.redd.it/jcqjhfjzkqx71.png?806&format=png&auto=webp&s=6a8c103ac43f87a33680dd15a11454ede59ecc28

Income Disparity

Billionaire Mark Cuban thinks he can explain why:

https://preview.redd.it/zrim8r01lqx71.png?548&format=png&auto=webp&s=d63e207ff3b10e263036f59e7358cbc16ba6608e

He says the majority of those 40% earn less than $50,000 a year (€43,000). 'Now we know why so many people are quitting low-paying jobs. And this was BEFORE the current run-up.'

https://preview.redd.it/kfofhyv4lqx71.png?808&format=png&auto=webp&s=1628ceaef1ed000c851abd84f7acb3f704edb363

Broken down by income, 27% of the "quitters" were found to earn less than $25,000 a year from their regular jobs. But it's not just low-paying jobs where crypto gives financial freedom, as many as 37% of the 'quitters' earned $50,000 per year. Civil Science concludes:

'These data imply that crypto investing can be life-changing for some income levels, while wealthier crypto owners use it more as another form of asset diversification rather than as a source of income.'

Link to the full research report

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