Bitcoin Gains Popularity Among Voters Ahead of U.S. Presidential Election, Survey Reveals
A recent survey conducted by Grayscale suggests that Bitcoin is becoming increasingly relevant in the lead-up to the 2024 U.S. Presidential election, where Joe Biden and Donald Trump are expected to face off once again for the White House. The survey indicates that Bitcoin’s growing prominence can be attributed in part to geopolitical tensions, risks associated with the U.S. dollar, and inflation. Interestingly, 47% of voters incorporate cryptocurrency into their investment portfolios.
Moreover, the survey highlights the impact of regulatory developments in the crypto industry on voter sentiment. Almost one in three respondents claimed that the approval of a Bitcoin ETF has made them more inclined to invest in Bitcoin. Currently, Bitcoin is trading at around $67,800.
Grayscale predicts that as November approaches, cryptocurrencies will increasingly be taken into consideration by policymakers and candidates running for various offices in the 2024 election.
Cryptocurrency has emerged as a bipartisan issue, despite Trump and Biden having differing views on the matter. Digital assets are expected to play a significant role in several key races in November. Donald Trump, the leading Republican candidate, has shown favorable support for cryptocurrencies, while President Joe Biden has advocated for increased regulation in the sector.
In a recent post on Truth Social, Trump expressed his positivity and open-mindedness towards cryptocurrency companies, emphasizing the importance of the United States leading in this field. On the other hand, Biden announced his intention to veto a resolution passed by Congress that aimed to overturn the SEC’s controversial staff accounting bulletin SAB 121. The Biden administration argued that limiting the SEC’s ability to regulate crypto-assets would introduce financial instability and market uncertainty.
Despite their differing views, Grayscale’s survey reveals that crypto ownership rates are nearly equal among both Republicans and Democrats. The study also suggests that Republicans tend to prioritize economic issues, while Democrats are more focused on social causes. This may explain why Trump has recently embraced cryptocurrencies during his campaign.
With Trump and Biden running neck-and-neck in the polls, their respective approaches to digital assets could play a crucial role in influencing voters’ decisions as they head to the ballot box in November.
