In spite of the price volatility, there has been an upsurge in young professionals wanting remuneration in crypto, instigating perceptive employers to meet this demand.
As part of a deal with Cash App, LA Rams wide receiver Odell Beckham Jr. endorses the payment provider and announced getting paid in crypto. He isn’t alone, as there has been a growing association between sports and crypto. The volatility risk is perceived as a minor trade-off in comparison to the upside potential.
The cultural trope and marketing strategy of the masses mimicking athletes has been picked up upon. However, the arguments in favor of this novel phenomenon do run deeper. In a recently published piece by the Guardian titled, “No pension. No savings. No future. No wonder we’re betting the house on crypto,” author Rohit Thawani elucidates his struggles as a young person navigating the mired professional landscape of contemporary times. Times, which are witness to exorbitant medical bills, barely affordable rent, ever-increasing inflation, etc. Thawani argues that his position was worse than his parents had ever been in. He also said that it means volumes to him. The rising popularity of crypto can at least partly be attributed to young people looking for a solution in the quagmire and chaos that is modern life.
As this system grows in magnitude and proportion, it’s more of a certainty that more people will come to crypto looking for a solution. The growth is a certainty with increasing print money, cheap debt, fractional reserve banking, rehypothecation, etc.