Crypto Industry Adds $55 Billion to US Economy, Supports 232,000 Jobs: Report
A new report from the National Cryptocurrency Association (NCA) reveals that the crypto industry is now a significant contributor to the US economy. The sector is projected to generate $55 billion in total economic output this year and support 232,000 jobs nationwide, including 34,000 direct positions at crypto companies.
The report, based on input-output modeling from the Bureau of Economic Analysis and Bureau of Labor Statistics data, shows that crypto directly employs more people than several benchmark industries, including coffee and tea manufacturing, aerospace and robotics, cement manufacturing, and tobacco manufacturing. Direct roles in the crypto industry offer an average annual salary of $133,000, which is more than double the national median wage of $64,000.
The economic impact of crypto extends to various sectors across the country. The largest share of crypto investments goes to securities and commodity contracts at $9.7 billion, followed by housing and real estate at $4.8 billion. Employment is concentrated in California, New York, Texas, Washington, and North Carolina, with notable increases in Colorado and North Dakota attributed to favorable regulations and energy resources.
Broader industry context highlights that 67 million Americans hold crypto assets, and the United States ranks second globally in crypto adoption. Additionally, 60% of Fortune 500 companies are pursuing blockchain-related projects, indicating the growing mainstream acceptance of the technology.