Crypto is creating financial freedom.
It’s almost cliché now: make millions on crypto, quit work and buy a Lamborghini.
But how common is it?
Actually, it’s quite common. I was shocked. A recent poll found that 4% of Americans have quit work thanks to the financial freedom they’ve won through crypto investing.
That’s massive. For an asset class that young, it’s an incredible result. It’s proof that crypto is creating millionaires all over the place.
Well, not exactly. When you break it down, you can see that most of the people who have quit were quitting jobs that were fairly low-paying.
The majority are earning less than $50,000 a year, so in that sense, the hurdle isn’t al that high.
That said, 8% were quitting jobs paying more than $150,000, so it does have the ability to create serious income.
And it also makes sense that if the labour market isn’t offering you much of a wage, you have much more incentive to get into crypto investing, where there’s just so much more upside.
Another interesting stat in the survey was the result that while most people were investing for capital gain, 16% were buying crypto to use in transactions.
That’s a pretty big number, and suggests that adoption is coming quicker than most people think.
And when you break that one down by age, young people are much more likely to use it for transactions than older people. The money of the future.
But for all the wealth-creation potential of crypto – and it is massive – this survey still comes with a word of warning.
Of those who are active crypto investors, 16% are less wealthy now than when they started.
And that’s despite an epic bull-run in recent years.
It just goes to show, you still have to know what you’re doing. Education as always is the key ingredient in success.
But at any rate, crypto has already set 4% of Americans up for life.
What can it do for you?