See More

47% of Voters Eye Crypto Investments Ahead of 2024 US Election

2 mins
Updated by Daria Krasnova
Join our Trading Community on Telegram

In Brief

  • Nearly 50% of American voters plan to include cryptocurrency in their investment portfolios.
  • Inflation impacts Bitcoin interest; 21% of voters more interested, 33% less, 44% unchanged.
  • Crypto policies influence 44% of voters, with rising interest due to geopolitical and economic factors.
  • promo

A recent Harris Poll survey conducted for Grayscale reveals a significant shift in voter sentiment toward cryptocurrency.

Nearly half of American voters plan to include crypto in their investment portfolios, confirming its growing importance in the 2024 US Election.

Investment Perspectives and Inflation’s Impact

According to the survey, 65% of Bitcoin holders view it as an investment in the future of blockchain technology. 53% use Bitcoin as a currency, while 43% consider it a speculative asset. Notably, 36% see BTC n as digital gold or an inflation hedge, and 8% do not fully understand it.

Inflation has played a crucial role in shaping Bitcoin interest. Due to rising inflation, 21% of voters are more interested in Bitcoin, while 33% are less interested, and 44% report no change.

Over two in five voters await more policies and regulations before investing in cryptocurrency. This sentiment is especially strong among Gen Z and Millennials. Voter interest in crypto is rising, with expectations increasing from 40% in late 2023 to 47% in early 2024. Additionally, 44% are waiting for further regulatory clarity. 41% are paying more attention to crypto due to geopolitical tensions, inflation, and a weakening US dollar, and 39% want economic improvement before investing.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Perceptions on Crypto as an Investment
Perceptions on Crypto as an Investment. Source: Grayscale

Crypto ownership rates are similar among Republicans (18%) and Democrats (19%), with both parties showing balanced interest in crypto policies. About 30% of voters believe that both the Democratic and Republican parties favorably position crypto policies. Significant events such as the approval of the US spot Bitcoin ETF in January 2024 and the Bitcoin Halving in April 2024 have heightened interest, particularly among retiree voters.

Despite growing regognition, the level of understanding of cryptocurrencies and blockchain technology is still far from high. A study by Preply highlights a significant knowledge gap among crypto investors. About 35% lack confidence in their understanding, and 60% struggle with blockchain technology concepts. Popular crypto terms like DAO, DEX, and ICO are frequently searched, reflecting intense curiosity.

Read more: The Best Online Blockchain Courses In 2024

As the 2024 US Election approaches, cryptocurrency’s influence on voter sentiment and investment strategies is evident. With nearly half of voters planning to include crypto in their portfolios, the demand for clear policies and regulations is growing. This trend highlights the critical role that digital assets will play in shaping the political and economic future of the country. Policymakers and candidates must address these emerging concerns to resonate with an increasingly crypto-aware electorate.

“As we approach November, it seems clear that crypto will increasingly be considered by policymakers and candidates across all offices who are preparing to run for office in the 2024 election,” the report concludes.

Top crypto projects in the US | June 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

da475f486647738b39c0c88a3e7d115d.jpg
Shota Oba
After interning at a domestic blockchain media company while enrolled at a university in international relations, he worked as an intern trainee at two foreign crypto asset exchanges. Currently, as a journalist, he focuses on the Japanese crypto asset market, both technical and fundamental analysis. He has been trading crypto assets since 2021 and is interested in economic and social affairs.
READ FULL BIO
Sponsored
Sponsored