- The survey shows increasing voter interest and openness to crypto investments.
- Balanced interests between parties emphasize the importance of crypto.
As expectations mount for the upcoming 2024 US presidential election, cryptocurrency has emerged as a consistent focus among voters.
Harris Poll led the questionnaire on behalf of Grayscale about voters in the 2024 US elections. The online survey took place between April 30 and May 2 and involved 1,768 adults.
Survey results
The results published by Grayscale suggested that Bitcoin [BTC] Its prominence had increased due to macro developments and its maturation as an asset, saying:
“Nearly a third of voters (32%) say they have become more open to learning about crypto investing or actually investing in crypto since the start of the year.
The survey revealed an upward trend where more voters now view crypto as a favorable long-term investment (23% compared to 19% last November).
Additionally, a growing number expect to include cryptocurrencies in their investment portfolios (47% in November 2023 vs. 40% now).
This trend has also led to Bitcoin prices being higher than those of previous elections, as shown in the chart below.
Source: Grayscale/Harris Poll
The report further discussed the impact of Bitcoin ETF, explaining:
“The adoption of Bitcoin ETF in particular made 9% of retired voters more interested in investing in Bitcoin or crypto assets.”
Trump vs. Biden
Needless to say, while Donald Trump has openly embraced crypto, as evidenced by his recent decision to accept crypto donations for his presidential campaign, Joe Biden’s stance on crypto has been less vocal.
However, numerous examples suggest that Biden has also accepted crypto, especially with his stance on the FIT21 and SAB 121 bills.
Furthermore, according to Grayscale’s report,
“Crypto is a bipartisan issue, with similar ownership rates among Republicans (18%) and Democrats (19%).”
It was further stated,
“Voters are split on which party is more favorable to the sector, as an equal percentage of voters (30% each) think that both the Democratic and Republican parties have the most favorable positions on crypto policy.”
Voter sentiment is changing
These findings illustrate that support for crypto is not strongly biased towards one party, indicating balanced interest across the political spectrum.
As crypto gains traction among voters, especially among young people, the next administration’s approach to cryptocurrency will be critical.