Some young Koreans are giving up their jobs to focus on Bitcoin (BTC) and crypto trading
Young Korean employees are turning to Bitcoin (BTC) and crypto investments to generate wealth and finance their lifelong dreams, such as owning a home.
A growing number of young Korean employees are turning to Bitcoin (BTC) and crypto investments to generate wealth and finance their lifelong dreams, such as owning a home. However, her passion for investing in digital currencies has impacted other areas of her life, such as her performance at work.
According to The Chosun Ilbo, many South Korean workers in their twenties and thirties begin to study trading in cryptocurrencies like bitcoin. Experts suggest that these young employees have been lured into the high-risk world of crypto investing due to soaring property prices, which makes owning a home inaccessible for most of them.
“I face the reality that no matter how hard I save my salary, I can’t afford my own home,” one clerk in his thirties told the publication. “Despite the high volatility, there is no other option for me than cryptocurrency investments to amass wealth.”
However, the trend is causing problems for their employers. Many business owners and managers complain that their young employees are distracted by the fluctuating Bitcoin price that they track throughout the day, including during work hours. Some workers have even decided to quit their jobs to focus on crypto trading.
For example, a 20-year-old worker named Han Jung-soo decided to quit his three-year job with a credit card company to focus on crypto trading. The decision came after he made 3 billion won (around $ 2.6 million) from the trade.
“I loved to work, but I realized that financially, it makes more sense to focus on my investments considering the returns I can get for the time I’ve invested,” he said. Its success story soon spread, prompting other workers to quit their jobs.
Some companies plan to block access to crypto trading sites during office hours. Other companies have offered higher salary packages to their employees, especially in IT, to dissuade them from leaving their jobs.
“Most IT company employees in this space invest in cryptocurrency, and we see employees quitting after making more profits on their cybercash investments than their jobs,” said a team leader at a startup company. “This is one of the reasons IT companies have been rushing lately to give their employees big increases.”
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