Bitrabo Editorial
The upcoming US presidential election is drawing near, and the candidates’ perspectives on cryptocurrency have become a significant topic of discussion. A recent study conducted by Consensys reveals that most crypto holders intend to vote, with almost half acknowledging the importance of a pro-crypto stance when selecting political candidates.
Growing Crypto Engagement Among Electorate
A new study by Consensys, in collaboration with HarrisX, underscores the increasing relevance of cryptocurrency among young voters. The findings reveal that 92% of US crypto owners are planning to participate in the presidential election. Remarkably, those motivated by crypto to vote surpass the winning margin in every state examined in the study during the last election.
According to the research, a majority of voters, 49%, see pro-crypto policies as essential criteria for their preferred candidates. Furthermore, 40% of voters expressed readiness to switch their political allegiance if a candidate advocates for crypto, while only 27% indicated they would not.
Many respondents also contend that the US government lags in crypto regulations compared to other nations that are more cryptocurrency-friendly. In fact, 44% believe that the government is insufficiently supporting the industry’s growth, a sentiment that echoes the SEC’s regulatory actions against the sector.
Political Consensus on Crypto
Since the previous presidential election, the crypto industry has seen significant growth in the U.S. Looking ahead, the impact of cryptocurrency on political strategies is poised to expand. As a growing number of voters begin to embrace digital currencies, candidates will likely be influenced to adopt crypto-focused policies in their campaigns.
The report estimates that 19% of U.S. voters currently own cryptocurrency. This figure is projected to rise, with one-third of voters expressing intent to invest in crypto within the next year. Bitcoin remains the most popular choice, with 13% of voters holding it in their portfolios.
When it comes to determining which political party is better positioned to handle crypto issues, opinions vary. The survey found that 35% of participants have more faith in the Republican party, while 32% lean towards the Democratic party. Meanwhile, 26% are uncertain about their preferences.
Moreover, 56% of respondents are optimistic about Donald Trump’s pro-crypto initiatives, while 54% believe that Kamala Harris should clarify her strategies regarding cryptocurrency. Additionally, 33% stated they might reconsider their candidate preference if she adopts a favorable crypto position.
Image sourced from Pexels, chart from TradingView