Research Highlights Bitcoin And Crypto Stance As Important Factors In Upcoming US Elections

The next US presidential election is fast approaching, and the crypto stance of the candidates has become an important campaign point than many would’ve expected. According to a recent survey conducted by Consensys, a majority of crypto owners are planning to vote in the presidential election, with nearly half of these voters considering a pro-crypto stance to be a crucial factor in their selection of political candidates.

The Rise Of Crypto Awareness Among Voters

The recent study carried out by Consensys, in partnership with HarrisX, highlighted the growing importance of the crypto industry among an upcoming young voter base. According to the study, 92% of crypto owners in the US plan to vote for the next president. Interestingly, the number of crypto-motivated respondents willing to vote was more than the last presidential election’s margin of victory in every state the study was conducted. 

The study found that pro-crypto policy was a crucial factor for voters in the election, with 49% believing it’s important for their go-to candidate to be all in on it. What’s more surprising is that 40% of the respondents who are voters are willing to change their preferred party if a candidate expresses pro-crypto views, while a lesser 27% are not.

In terms of governmental policies, many of the respondents believe that the US government is behind in terms of crypto regulations compared to other crypto-forward countries. Particularly, 44% of voters believe that the US government is not doing enough to encourage the growth of the industry. This sentiment is particularly valid, considering the SEC’s history of clamping down on the industry. 

Consensus Moving Forward

The crypto industry’s presence in the United States has grown massively since the last presidential election. Looking ahead, the influence of cryptocurrency on political campaigns is likely to increase. As more voters embrace digital assets, candidates will be compelled to incorporate crypto-related policies into their platforms. 

According to the report, 19% of U.S. voters currently own crypto. This is expected to increase in the coming years, with one in three voters saying they are likely to invest in crypto in the next year. Unsurprisingly, Bitcoin is the most common asset, with 13% of US voters having Bitcoin in their portfolio. 

Looking ahead, respondents’ opinions are divided regarding which political party is best equipped to navigate the crypto industry better. The study shows that 35% of respondents trust the Republican party, while 32% trust the Democratic party to get crypto policies right. On the other hand, 26% have yet to make up their minds. 

However, 56% of respondents are happy about Donald Trump’s recent crypto-positive campaigns, while 54% think Kamala Harris needs to spell out her crypto game plan. 33% of respondents are more likely to change their preferred candidate if she takes a pro-crypto stance.

Featured image from Pexels, chart from TradingView