Cryptocurrency is set to play a crucial role in the upcoming United States Presidential elections in November. A recent survey conducted by Harris Poll on behalf of crypto asset manager Grayscale has provided valuable insights into how American voters perceive cryptocurrency in relation to the elections and its political significance.
The survey, which took place between November 27 and 29, 2023, involved 1,759 individuals aged 18 and above who intend to vote in the election. It shed light on the increasing importance of cryptocurrency in the minds of voters.
The significance of cryptocurrency in this election season is evident from the shifting stance of former President Donald Trump. Despite being a strong critic of Bitcoin (BTC) during his presidency, he now endorses Bitcoin and supports various other causes related to the crypto world. The Biden administration has also made a significant policy shift in favor of cryptocurrency, and other candidates like Robert F. Kennedy Jr. have expressed their support as well.
The survey revealed that 73% of the participants believe that presidential candidates should have a well-informed perspective on innovative technologies such as cryptocurrency and artificial intelligence (AI). One in three U.S. voters stated that they would consider a political candidate’s position on cryptocurrencies before casting their vote.
Almost everyone surveyed (98%) had heard of Bitcoin, and a number of voters also mentioned Ether (ETH), with only 46% of respondents claiming to have never heard of it. Over 17% of voters reported having invested in Bitcoin, which is almost as high as the number of people who own bonds and significantly higher than those who own exchange-traded funds (ETFs).
Furthermore, seven out of ten respondents claimed to have invested in cryptocurrency, and nearly one in five (19%) stated that they hold cryptocurrency. This percentage is higher among men (23%), Black and Hispanic voters (26% and 32% respectively), and younger voters (31% of Gen Z).
The survey also revealed that most people’s interest in cryptocurrency has been fueled by inflation. Additionally, 40% of investors stated that they plan to include crypto in their future portfolios.
According to the survey, Gen Z and Millennials invest more in cryptocurrency than traditional assets like stocks and bonds. Among these age groups, 31% of Gen Z and 35% of Millennials have already invested in cryptocurrency.
In conclusion, the survey conducted by Grayscale provides valuable insights into the perception of cryptocurrency among U.S. voters in relation to the upcoming Presidential elections. It highlights the growing importance of crypto in the political landscape and the need for candidates to have a well-informed perspective on innovative technologies.