Why Some Crypto Enthusiasts Are Leaving College to Pursue Their Dreams
When Carson Case, a computer science major, decided to drop out of the University of Nevada, Reno in 2020 to pursue a career in crypto, he didn’t have a clear plan. However, he found success as a freelancer using Solidity and made around $300,000 in two years. Despite facing setbacks like the failure of his own DeFi project and the bankruptcy of Celsius Network, Case remains optimistic about crypto and hopes to return to college when he can.
The Rise and Fall of Crypto Businesses
Shortly after Case left college, the crypto industry experienced a period of success with Bitcoin reaching an all-time high in November 2021. However, many crypto businesses collapsed in 2022, causing losses for some and narrow escapes for others. Despite these challenges, individuals like Andrew Wang dropped out of Columbia University’s Graduate School of Journalism to explore nonfungible tokens (NFTs) and the world of digital art.
The Rollercoaster Ride of NFT Trading
Wang sustained himself by trading NFTs but acknowledges that this part of the industry has mostly fizzled recently. The value of many NFT collections has plummeted, and trading volume has significantly declined. While Wang remains optimistic, employment data for the crypto industry shows a decline in job opportunities this year.
Lessons from the Dot-Com Bubble
Case compares the recent turbulence in crypto to the dot-com bubble and believes that it will eventually lead to something revolutionary. Despite experiencing a significant market shrinkage, crypto has shown signs of rejuvenation with Bitcoin’s price doubling this year.
A Bright Future for Crypto Enthusiasts
Despite the challenges and uncertainties, young people like Wang and Rushi Manche, who left college to pursue their crypto dreams, remain confident in the industry’s eventual resurgence. They believe that college is useful for those who need to figure out their life goals but see themselves as entrepreneurs from the start.
Hot Take: The Crypto Rollercoaster Ride
The crypto industry has experienced both highs and lows, with individuals leaving college to pursue their dreams in this volatile field. While setbacks and market fluctuations have caused some to question their choices, others remain optimistic about the future of crypto. Just like the dot-com bubble of the late 1990s, this period of turbulence may lead to something revolutionary in the long run. Regardless of current prices, young crypto enthusiasts are excited about what lies ahead and are willing to take risks to be part of this transformative industry.
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