Job postings with terms like “Bitcoin,” “Ethereum,” “blockchain” and “cryptocurrency” grew 395% in the United States last year.
According to new data from Linkedin, a professional work-based social network, the number of cryptocurrency-related job postings soared in 2021. The increase was even higher than the general increase in tech-related job postings. The nature of these posts is also diversifying, with various industries requiring people with crypto know-how
- Trillions of investments were made into the cryptocurrency industry in 2021 as investors poured over N14 trillion into the sector
- Job listings such as blockchain, Ethereum, Bitcoin and cryptocurrency dominated the demand for crypto-related jobs.
- Developers are highly anticipating the emergence of Web 3 which many say will see the introduction of the metaverse.
An analysis of the cryptocurrency jobs sector made by the work-based social network Linkedin found that cryptocurrency job postings soared in 2021 even when compared to other growing fields. The company stated that job postings including the words “ethereum,” bitcoin,” and “cryptocurrency” grew almost 400% in 2021 when compared to the year before. The field outgrew even tech, which only managed to grow 98% in its job listings during the same period.
The crypto space has also attracted the attention of major corporations that are not directly involved in cryptocurrency or finance.
The analysis concluded this demand had to do with the influx of funding that flooded the crypto environment last year: $30 billion were poured into the crypto ecosystem last year, and this gave rise to many companies needing people to develop crypto-related projects. The public exposure of crypto and the new bull market that took off last year also had to do with this growth.
Crucially, the crypto industry outpaced the wider tech industry, which also saw remarkable development, almost doubling its number of job listings.
However, at 98% growth, the tech industry dwindles in comparison to crypto jobs, which gained by a whopping 395%.
Furthermore, no industry was safe from “crypto-ization” in 2021. The LinkedIn News post offered valuable insight into crypto influencing other industries:
While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors.
For 2022, the growth trend looks set to continue. The biggest exchanges in crypto are brimming with job posts; Coinbase has over 250 openings, Kraken over 300, and the world’s most active exchange, Binance, lists more than 600 job posts.
For Bitcoiners and Bitcoin (BTC) maximalists, there is a new resource — Bitcoiner jobs. A service dedicated to helping connect Bitcoiners with Bitcoin-only companies, it now offers almost 100 Satoshi-approved careers.
For those who are unable to switch jobs into crypto, a wider HR trend is crypto remuneration. The mayors of New York and Miami announced that they would take a portion of their pay in BTC in 2021, while seven NFL players have chosen crypto over cash salaries to date.
Crypto companies are also poaching executives and workers from other companies in finance and tech, as the field becomes increasingly sought after. This phenomenon is happening not only in the U.S., but also in other countries where crypto has gained popularity, such as Korea. An exodus of financial officials in the country happened last year, when government officials and former regulators left their jobs to work for cryptocurrency exchanges.
The crypto boom has also caused some companies foreign to the field to jump on the crypto bandwagon, creating cryptocurrency jobs in traditional companies such as Accenture, KPMG, PayPal Holdings Inc., and JPMorgan Chase & Co, which now have divisions dedicated to cryptocurrency.