Crypto is now a driving force behind the expansion of the US economy, according to a new report
The sector is expected to generate $55 billion in total economic output this year while sustaining 232,000 positions nationwide, including 34,000 direct roles at crypto companies, reports the National Cryptocurrency Association (NCA).
The figures indicate that crypto directly employs more people than benchmark industries such as coffee and tea manufacturing, aerospace and robotics, cement manufacturing and tobacco manufacturing.
Direct positions average $133,000 in annual pay, which is more than twice the national median wage of $64,000.
The analysis relies on input-output modeling from the Bureau of Economic Analysis and Bureau of Labor Statistics data.
The NCA says crypto’s economic contribution impacts a wide array of industries across the country. Crypto investments in securities and commodity contracts receive the largest share at $9.7 billion, followed by housing and real estate at $4.8 billion.
Employment concentrates are in California, New York, Texas, Washington, and North Carolina, with notable increases in Colorado and North Dakota tied to favorable regulations and energy resources.
Broader industry context shows 67 million Americans hold crypto assets, and the US ranks second globally in adoption rates. Additionally, 60% of Fortune 500 firms pursue related blockchain projects.
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