American Voters Increasingly Turning to Crypto, Survey Reveals

Titled "2024 Election: The Role of Crypto," the survey explores how current financial conditions and changing attitudes toward crypto are shaping voter decisions.

The findings, released in stages ahead of the November US Elections, reveal that geopolitical tensions, inflation, and a weakening US dollar drive more voters toward Bitcoin (BTC) and other cryptocurrencies. Additionally, the data shows an increasing number of voters planning to include crypto in their investment portfolios.

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Compared to last year, more voters are likely to support a candidate who understands crypto. This is echoed by a large majority of voters who believe that presidential candidates should be well-informed about innovative technologies like artificial intelligence (AI) and crypto.

Zach Pandl, Grayscale's Head of Research, said:

Likely American voters from across the political spectrum indicate a heightened interest in investing in crypto assets and in supporting candidates well-versed in emerging technologies. Aligned with recent votes in the House and Senate, this data reinforces that crypto has become a bipartisan issue that neither party can afford to overlook.

The survey also reveals a near-even split among voters regarding which political party supports crypto more. While many Democrats and Republicans see their respective parties as more favorable toward crypto, over half of Independent voters remain uncertain about which party is more supportive.

Furthermore, the findings highlight that regulatory clarity is crucial for potential crypto investors. The survey found that 52% of voters would be more inclined to invest in crypto if more precise regulations were established. Furthermore, 79% of voters agree that political leaders should create frameworks that promote financial inclusion and protect investors.

The survey report also says that younger generations are particularly open to exploring crypto:

The next administration's approach to <crypto> will be important. This is particularly key for the youth vote, as 62% of Gen Z and Millennial voters believe crypto and blockchain technology are the future of finance.

Therefore, as the 2024 elections approach, American voters' growing interest in cryptocurrencies will likely influence investment trends and political strategies.

In related news, Joe Biden recently vetoed a resolution to overturn the Securities and Exchange Commission's (SEC) SAB 121, a regulation that mandates banks to list customers' digital assets on their balance sheets.