Bitcoin prices show no correlation with rise of crypto jobs: Barclays report

As cryptocurrency prices surge, does the industry experience a corresponding rise in job opportunities?

A recent report from Barclays bank analyzes job posting data and finds that this is generally not the case. “Although the price of bitcoin has responded to the potentially crypto-friendly Trump administration, hiring has not,” write Barclays researchers.

There are no signs that more crypto-related roles are created when digital asset prices increase, Barclays data suggests. Instead, crypto jobs saw their highest volume from the end of 2021 to the beginning of 2022, according to the bank’s analysis of job ads.

Still, the industry remains optimistic about potential job growth. Trump has pledged to support the digital asset sector and has appointed pro-crypto figures like Scott Bessent, David Sacks, and Paul Atkins to key positions influencing crypto policy. Many expect these picks — coupled with the administration’s pro-crypto policies — to create more job opportunities in the U.S. crypto market.

In line with these expectations, crypto firm Ripple Labs recently announced an expansion of its U.S.-based workforce in 2025.

“[Seventy-five percent] of Ripple’s open roles are now U.S.-based, while over the last [four] years, the vast majority of hires were outside the U.S.,” said Ripple CEO Brad Garlinghouse.

“2025 is here and the Trump bull market is real,” Garlinghouse said. “For Ripple, this is even more personal after Gensler's SEC [U.S. Securities and Exchange Commision] effectively froze our business opportunities here at home for years.” (Ripple is currently engaged in a lawsuit with the SEC over its XRP token.)

In December, the company donated $5 million in XRP tokens to the inauguration fund of Donald Trump.

Since Trump’s election, Bitcoin miner Hive Digital also unveiled plans to move from Canada to the U.S., citing a more business-friendly climate in the Lone Star state. “Texas, in particular, stands out for its supportive business climate, energy infrastructure, and access to skilled talent,” Hive Digital said. “Additionally, the new administration under President-elect Donald Trump has demonstrated a more pro-Bitcoin stance, emphasizing innovation and establishing a regulatory framework for the cryptocurrency ecosystem.”