Trusted

Grayscale: Voters Eye Candidates’ Crypto Stance Amid US Election Buzz

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

In Brief

  • 71% of voters believe political leaders should embrace crypto and AI for America's global competitiveness.
  • 56% of likely voters back candidates knowledgeable about crypto, a rising trend since December 2023.
  • Hispanic and Black voters are significantly more engaged in crypto investments compared to White voters.
  • promo

Grayscale Investments conducted research spearheaded by The Harris Poll. It determined that 71% of expected voters in the US support that political leaders should embrace crypto and AI.

The September study explored perspectives on crypto, artificial intelligence, investing, and how the future of the financial system, among other factors, could shape voting considerations in the 2024 US Election.

American Voters’ Feelings Skewed Towards Crypto

With the US election just a month away, 56% of “likely voters” now favor candidates who are knowledgeable about crypto over those who are not. This marks a 3% increase since May and an 8% rise since December. Voters are increasingly viewing emerging technologies like crypto and AI as essential to building future financial success.

Notably, two out of every five voters (40%) consider candidates’ positions on Bitcoin and other crypto assets when making their decision. This change in sentiment is notable compared to December 2023, when only 34% of voters expressed the same interest.

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

Further, the study established that more Americans own crypto in the future now than they did in 2023. This is more pronounced among the older generation. It ascribes the shift to the spot Bitcoin ETFs (exchange-traded funds), which offer intuitional investors BTC access.

“Nearly a third (30%) of voters said ETF approval of Bitcoin made them more interested in investing in Bitcoin or other crypto assets broadly. Also, nearly half of voters (46%) indicated that they expect some of their investment portfolio to include crypto in the future — a notable increase since 2023 (40%),” an excerpt in the research indicated.

Another interesting finding in the research is that crypto is progressively becoming a nonpartisan issue in the US. Specifically, there is an almost even split favorwise between the Republican and Democratic parties. This is despite crypto investors’ increasingly diverse voting demographics, such that:

  • 63% of Hispanic and 68% of Black voters show interest in investing in Bitcoin, compared to 35% of White voters.
  • Nearly a third (30%) of Hispanic and Black (31%) voters currently own Bitcoin, compared to only 13% of White voters.

These findings echo recent Consensys research, which determined that half of US voters support pro-crypto policies. According to the survey, 85% of crypto owners view crypto as a key voting issue. Meanwhile, 92% are likely to vote.

Republicans currently hold a slight edge in being perceived as more crypto-friendly, largely due to Donald Trump’s ongoing promotion of digital assets. Recently, Trump made headlines by purchasing burgers with Bitcoin and launching a DeFi venture, though the latter received a tepid response. He has also vowed to fire Gary Gensler, a top critic of the crypto industry, if elected.

Read more: How Can Blockchain Be Used for Voting in 2024?

Donald Trump versus Kamala Harris
Donald Trump versus Kamala Harris. Source: Polymarket

Democrats, meanwhile, are seeing growing support from cross-party voters, with increasing warmth toward crypto. Kamala Harris, the party’s candidate, has begun accepting crypto donations and has committed to expanding the use of both crypto and AI in her campaign for the presidency.

The report highlights the growing significance of crypto in U.S. politics. According to Polymarket data, Kamala Harris currently holds a narrow lead, polling at 50% compared to Trump’s 49%, with just 34 days left until the election.

Top crypto projects in the US | October 2024
Exodus Exodus Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | October 2024
Exodus Exodus Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | October 2024

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.

Lockridge-Okoth.png
Lockridge Okoth
Lockridge Okoth is a journalist at BeInCrypto, focusing on prominent industry companies such as Coinbase, Binance, and Tether. He covers a wide range of topics, including regulatory developments in decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), real-world assets (RWA), GameFi, and cryptocurrencies. Previously, Lockridge conducted market analysis and technical assessments of digital assets, including Bitcoin and altcoins such as Arbitrum, Polkadot, and...
READ FULL BIO
Sponsored
Sponsored