New data from crypto asset management firm Grayscale shows that US voters are increasingly turning to crypto as the 2024 presidential election approaches.

In a new blog post, Grayscale argues that this election cycle could revolve partly around Bitcoin (BTC) and crypto as voters become increasingly interested in investing in digital assets.

To reach this conclusion, the crypto company conducted a survey between April 30 and May 2 of this year among 1,768 adults (18 years and older) who plan to vote in the 2024 presidential election:

“2024 has been a banner year for Bitcoin so far. The price of Bitcoin hit an all-time high on March 13, 2024; moreover, the price of Bitcoin has been higher every day in 2024 than in previous election years. The speculation and headlines have begun: could November be ‘the Bitcoin election’?

This growing focus on crypto isn’t limited to Bitcoin alone. Instead, it extends to a broader picture of crypto assets, both in terms of general interest and willingness to invest. Nearly a third of voters (32%) say they’ve become more open to learning about or actually investing in crypto since the start of the year.

Compared to November 2023, voters are also more likely to view crypto as a good long-term investment opportunity (23% vs. 19%) and increasingly expect some portion of their investment portfolio to include crypto (47% vs. 40%).”

Grayscale finds that voters are divided between which political party has the best policies in terms of crypto assets, showing that support for crypto isn’t just skewed in one direction:

“While Trump has embraced crypto more during the campaign, the data shows crypto is a bipartisan issue, with similar ownership rates among Republicans (18%) and Democrats (19%).

Voters are split on which party is more favorable to the industry, as an equal percentage of voters (30% each) think both the Democratic and Republican parties have the most favorable position on crypto policy.

These findings show that support for crypto is not overwhelmingly biased toward one party and indicate balanced interest across the political spectrum.”

Donald Trump has recently positioned himself strongly as a proponent of cryptocurrency, calling himself the “crypto president,” expressing support for the sector, and wanting to make Bitcoin mining more attractive. He even accepted donations in crypto for his campaign. In contrast, Joe Biden has been more critical of the crypto market and remains consistently negative about its impact.


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