Bitrabo Editorial
A recent study conducted by The Digital Chamber, a pro-crypto trade organization, indicates that the influence of a candidate’s views on cryptocurrency in the upcoming US presidential election may be more substantial than previously thought.
26 Million Voters in the “Crypto Voting Bloc”
The term “crypto voting bloc” describes a group of voters across party lines—both Republicans and Democrats—who regard digital currencies as either “very” or “extremely” important in their voting decisions. These individuals tend to favor candidates who advocate for cryptocurrency.
Among the 1,004 participants in the survey, approximately 16% (one in seven) stated that digital assets will significantly influence their choice of candidate.
Interestingly, a higher percentage of voters expressed a preference for candidates who are supportive of crypto—25% of Democrats and 21% of Republicans. This finding challenges the common belief that Republican voters are more concerned about crypto regulations.
Diving into demographics, close to 40% of Black voters rated digital assets as “extremely” or “very important” for their voting decisions in November 2024, compared to 13% of white voters and 22% of Asian voters who felt similarly.
The survey also identified differences in perceptions among voters. For instance, those leaning towards Kamala Harris view her as more supportive of cryptocurrencies than Donald Trump, while Trump supporters believe he is more favorable to crypto than Harris.
Additionally, 34% from both political parties indicated that the crypto industry should be at least a “medium” priority for the president and Congress. Furthermore, 32% of Democrats and 27% of Republicans asserted that cryptocurrency should be a “very high” or “high” priority for the next administration.
Perianne Boring, founder and CEO of the Digital Chamber, commented on these results:
The message from voters is clear—they seek intelligent, balanced regulations that safeguard consumers while fostering innovation. Candidates emphasizing a pro-crypto approach can effectively engage this expanding voter base.
The study also noted that individuals well-acquainted with digital assets generally had a more favorable view of them, and those with better knowledge of cryptocurrencies tended to trust government officials more.
Harris and Trump Commit to Positive Regulations
Both presidential hopefuls are striving to secure and boost support from the crypto voting bloc as the election approaches.
Galaxy Research’s Alex Thorn recently suggested that the digital asset sector could thrive under Harris, predicting she might be “more supportive” than Joe Biden, who has faced criticism for allegedly suppressing the growing industry due to his administration’s scrutiny of businesses involved with digital assets.
In a separate analysis, Bernstein predicted that Bitcoin (BTC) could reach between $80,000 to $90,000 if Trump were to win the presidency. The report also highlighted the crypto community’s desire for a clearer position from Harris regarding the digital asset realm.
A recent filing with the Federal Election Commission disclosed that Trump has received around $7.5 million in donations through BTC, Ethereum (ETH), and XRP since early June. As of now, BTC is priced at $68,807, reflecting a 1.9% increase in the last 24 hours.