Job ads for crypto-related positions increased almost fivefold from 2020 to 2021, a recent study by LinkedIn shows. Ads containing terms such as “Bitcoin,” “Ethereum,” “cryptocurrency”, and “blockchain” grew 395% in the U.S. in that year according to the study. This is much more than the 95% increase in job ads in the wider tech industry in that period.
Software, finance, blockchain dev, engineering most popular
While most ads were for software and finance positions, there was also an increase in demand for people in blockchain development, engineering, hardware, staffing, and professional services such as accounting and consulting.
Demand surges amid influx of funding
Last year, hiring demand rose against the background of an influx of funding. In 2021, investors across the globe poured $30 billion into crypto and blockchain startups according to PitchBook data. Public interest in digital assets exploded as people like Elon Musk praised the technology behind them. Crypto companies like Crypto.com went mainstream. An example is the eponymous Arena in Los Angeles.
Doubts about crypto survivability persist despite the high growth rate of the broader industry. Skepticism toward the long-term utility of the technology remains and people continue to claim that crypto is a bubble. This doesn’t phase international corporations like Meta FB, Twitter, Amazon, JP Morgan, and Fidelity, all of which posted open positions for crypto talents in 2021.
Jason Lau, chief operating officer at crypto exchange Okcoin, corroborates this tendency. He told MarketWatch:
We’re hiring quite a bit. At last count, I think we had something like 50 open positions. And it’s going to be continued hiring. I can’t understate how we and other companies are still trying to expand in this space.
Crypto hubs
In 2021, Denver, San Francisco (Bay Area), New York City, Austin, and Miami-Fort Lauderdale had the highest number of crypto job postings. A number of crypto companies settled in such cities, LinkedIn told MarketWatch.
Miami has its own crypto
Miami, which hosts what’s widely regarded as the most important annual bitcoin conference in the world, has its own cryptocurrency MiamiCoin. Austin comes a close second, boasting a vibrant crypto culture. Eric Adams, Bitcoin fan and New York City mayor, pledged to make the Big Apple “the center of the cryptocurrency industry.”
In 2020, San Francisco was also in the top five of areas with the most crypto job ads. The other four – New York City, Raleigh-Durham-Chapel Hill Area, Greater Philadelphia and Los Angeles – did not make the top of the list this year.
