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 Grayscale, a crypto asset manager, has shed light on 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, interviewed 1,759 individuals aged 18 and older who plan to vote in the election. It revealed the growing importance of crypto in the minds of voters.
The significance of cryptocurrency in this election season is evident from the shift in stance by former President Donald Trump. While he was a vocal critic of Bitcoin (BTC) during his presidency, he now endorses Bitcoin and supports various other crypto-related causes. The Biden administration has also made a significant policy shift in favor of cryptocurrency, and other candidates like Robert F. Kennedy Jr. have expressed support for it as well.
The survey found that 73% of the respondents believe that presidential candidates should have an informed perspective on innovative technologies like cryptocurrency and artificial intelligence (AI). One in three voters said they would consider a candidate’s position on cryptocurrencies before casting their vote.
Almost everyone surveyed (98%) had heard of Bitcoin, and a significant number of voters also mentioned Ether (ETH), with only 46% stating that they had never heard of it.
When it comes to investment, a little over 17% of voters reported having invested in Bitcoin, which is almost as high as those who own bonds, and much higher than those who have exchange-traded funds (ETFs). Seven out of 10 respondents claimed to have invested in cryptocurrencies, and nearly one in five (19%) stated that they hold cryptocurrency. Men, Black and Hispanic voters, and younger voters, particularly those from Generation Z, had higher percentages of cryptocurrency ownership.
The survey also revealed that most people believe that inflation has increased their interest in cryptocurrency, and 40% of investors stated that they plan to include crypto in their future portfolios.
According to the survey, Generation Z and Millennials are more likely to invest in cryptocurrency than traditional assets like stocks and bonds. Among these age groups, 31% of Generation Z and 35% of Millennials have invested in cryptocurrency.
In conclusion, the survey conducted by Grayscale highlights the growing importance of cryptocurrency in the upcoming United States Presidential elections. It reveals the shift in stance by prominent political figures and the significant interest and investment in cryptocurrency among voters, particularly younger generations.