Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Crypto Will Play a Key Role in 2024 US Elections: Grayscale

Crypto Will Play a Key Role in 2024 US Elections: Grayscale

BeInCryptoBeInCrypto2023/12/21 04:14
By:By Martin Young 21 December 2023, 03:46 GMT+0000Updated by Kyle Baird 21 December 2023, 03:47 GMT+0

The upcoming US general election in November 2024 will be heavily influenced by crypto and the divisions between policymakers for and against it. These are the findings from a recent Grayscale survey on the role of crypto in the elections. 

Over the past month, Bitcoin, Ethereum , and crypto in general were all mentioned in an American Presidential primary debate for the first time, it reported. 

Crypto’s Role in US Elections 

The national survey called “2024 Election: The Role of Crypto” was conducted on Grayscale’s behalf by The Harris Poll. 

It was conducted between November 27 and 29 among 1,759 adults who plan to vote in the 20 2 4 presidential election .

High inflation is a top voter concern, underscoring Bitcoin’s significance as a potential inflation hedge. 26% of respondents said that high inflation is the most pressing problem in America right now. 

Crypto Will Play a Key Role in 2024 US Elections: Grayscale image 0 Interest in BTC based on inflation concerns. Source: Grayscale

Inflation and other economic woes have generated interest in investing in assets like Bitcoin, it noted. From this, it surmised that those familiar with Bitcoin see it as a macro asset. 

Secondly, there may be additional education needed to help a broader audience better understand crypto for greater mainstream adoption.  

More significantly, 46% of voters are waiting for additional crypto policies before investing, highlighting a desire for regulatory clarity.

Read more:  Top 7 Platforms To Earn Bitcoin Sign-Up Bonuses in 2024

Moreover, half of young voters who own crypto are considering candidates’ positions on digital assets , suggesting it will influence voting decisions.

A fifth of the respondents already own crypto, especially Millennials, where 40% believe crypto will be in their future portfolio.

The survey noted that more Gen Z and Millennials own crypto than equities. Additionally, the majority of these voters agree that “crypto and blockchain technology are the future of finance.”  

Campaigning for Pro-Crypto Candidates 

Coinbase has been running a cam p aign claiming that more than 50 million Americans own crypto. They argue that this is a huge voter base that should be addressed.

The firm is calling on the 15% of the population that owns crypto to stand up against tyrannical legislation and policymakers that aim to crack down on it. 

Additionally, there is a growing distrust among this cohort of the banking industry in America. This week, it was reported that Elizabeth Warren sought help from the American Bankers Association (ABA) for assistance in crafting the Digital Asset Anti-Money Laundering Act.

Finance lawyer Scott Johnsson said ,

“If you’re angry at Elizabeth Warren, don’t spend your time and resources trying to oust her out of her Senate seat.” 

“That’s not worth the energy. Instead, focus on vulnerable seats that have supported her crusade this past year,” he added. 

Explore more

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 Conditions ,  Privacy Policy , and  Disclaimers  have been updated.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Sei Research Initiative Aims to Overcome EVM Limitations

Sei Labs and the Sei Foundation launch the Sei Research Initiative to address Ethereum Virtual Machine limitations, enhancing scalability and decentralization.

Blockchainnews2024/11/28 00:22

US Elections Propel $2.2B Inflows into Digital Assets, Bitcoin (BTC) Leads

The recent US elections have sparked $2.2 billion in inflows into digital assets, with Bitcoin and Ethereum witnessing significant activity, according to CoinShares.

Blockchainnews2024/11/28 00:22

Reimagining EVM Storage: Addressing Key Blockchain Challenges

Explore innovative solutions to optimize the Ethereum Virtual Machine (EVM) storage layer, tackling state bloat and high gas costs through advanced data structures and blockchain strategies.

Blockchainnews2024/11/28 00:22

Ethereum Opens Applications for Next Billion Fellowship Cohort 5

Ethereum is now accepting applications for the Next Billion Fellowship Cohort 5, a program designed to leverage blockchain technology for solving real-world challenges.

Blockchainnews2024/11/28 00:22