Investors Poured N14.5 Trillion Into Cryptocurrency in 2021 as Demand for Crypto-related Jobs Surged

Investors Poured N14.5 Trillion Into Cryptocurrency in 2021 as Demand for Crypto-related Jobs Surged

  • 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
  • Also, developers are highly anticipating the emergence of Web 3 which many say will see the introduction of the metaverse

The career networking site, LinkedIn said crypto job listings soared to an all-time high in 2021, rising by 395 per cent in 2021.

According to the LinkedIn report, jobs like Bitcoin, Ethereum, blockchain, and cryptocurrency surged in 2021 in the US, which outpaced that of the tech industry that saw a 98 per cent rise during the same period.

CGI image of bitcoin cryptocurrency
CGI image of bitcoin cryptocurrency Credit: Stock image
Source: Getty Images

Demand for software developers increase

According to a Nairametric report, the analysis said most of the postings were software-inclined and in finance positions. LinkedIn also said demand for people in professional services such as accounting and consulting, staffing and computer software also rose.

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The report quoted PictBook data as saying that crypto investors poured over N14 trillion into blockchain and startups across the globe.

Crypto evangelists emerge

The period also saw a revamped public desire for cryptocurrency as prominent figures like Elon Musk promoted the technology.

This comes as developers anticipate the emergence of Web 3 that is referred to by many as the next generation of the internet.

The interest peaked at an all-time high in January 2022 as more than 18,000 monthly active developers commit to open source crypto and Web 3 projects, a report by the capital company, Electric Capital, said.

Bitcoin Hits N20.7m

Legit.ng reported that despite global opprobrium, Bitcoin investors were all smiles on Friday as they went home with a N20.750 million price increase of the cryptocurrency in their kitty.

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The cryptocurrency industry resumed trading activities on Friday, December 24, 2021, on a great note with a market huge cap, gaining marginally at 0.42 per cent to stand at N992,000 trillion, after it rose above the N20 million mark with a gain of 0.26 per cent to trade at N21.50 trillion, according to a report by Nairametrics.

However, the exchange rate between the naira and the US dollar closed at N414.73 per dollar at the official Investors and Exporters window.

Source: Legit.ng

Authors:
Pascal Oparada avatar

Pascal Oparada (Business editor) Pascal Oparada is a Mass Communications Graduate from Yaba College of Technology with over 10 years of experience in journalism. He has worked in reputable media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner. Email:pascal.oparada@corp.legit.ng

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