Employees in the United States are quitting low-paying jobs because of cryptocurrency profits, according to a survey.

According to a new poll, cryptocurrency investors who played the correct cards at the right moment have made large profits. According to the report, many people in the United States who were working in low-paying occupations departed after generating large profits from cryptocurrency investments. According to the poll, nearly two-thirds of those who quit had an annual salary of less than $50,000 (approximately Rs. 37.2 lakh), and the “financial independence” provided by their crypto-assets gave them the courage to go.

Between October 20 and October 27, a poll conducted by Civic Science, a US-based analytics organization, received responses from 6,741 participants.

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Around 4% of respondents quit their employment because they knew they had a financial buffer because to their cryptocurrency profits. The company then compared the four percent figure to data from a separate poll of 1,201 people who had quit their employment after receiving bitcoin benefits, based mostly on their yearly salary. It revealed that two-thirds of people who had lost their employment due to ‘mad gainz’ earned less than $50,000 per year (approximately Rs. 37.2 lakh). 27 percent of the 1,201 respondents reported an annual salary of less than $25,000, while 37 percent earned between $25,000 and $50,000. (roughly Rs. 37.2 lakh).


However, it’s worth noting that the data was cross-referenced from multiple time periods and a diverse group of respondents by the analytics business. It’s also unclear what “monetary independence” means in this situation, as Civic Science hasn’t provided a frame of reference to determine what type of crypto advantages respondents received.

Mark Cuban, a pro-crypto entrepreneur and investor, tweeted a link to the report to spur more discussion on a phenomena economists refer to as “the great resignation.” The term is used to describe a continuing scenario in the United States in which a huge flight of salaried workers has occurred in reaction to terrible working conditions, the pandemic, and low salaries, resulting in a substantial labour shortage.

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