A recent survey conducted by the Digital Currency Group and the Harris Group reveals that the majority of voters in swing states in the United States consider the financial system to be “outdated.” However, they are not convinced that crypto is the solution either.
The study involved 1,201 participants from six swing states, which are states that could potentially be won by either the Democratic Party or Republican Party in a statewide election. It was found that over 90% of these respondents plan on voting in the upcoming U.S. election, and a politician’s stance on crypto could play a significant role in their decision-making process.
Interestingly, while 70% of the surveyed voters agreed that the current financial system is outdated and in need of an overhaul, only a third of them believed that crypto could address this issue. Additionally, 80% of participants felt that the current financial system favors the elites, but almost 75% of respondents did not believe that crypto would be any more equitable than the existing system.
Only 41% of swing voters agreed that crypto offers a new way towards financial security and prosperity, while 35% believed that crypto is the future of transacting. However, there was a notable difference in opinions between those who currently own or have previously owned crypto and those who have no experience with it. More than 90% of current crypto owners plan to increase their holdings or maintain their portfolios in the next six months, whereas only 7% of non-crypto owners intend to invest in the asset class during that time.
Furthermore, approximately 76% of voters who hold or have held crypto reported that it has had a positive impact on their financial well-being.
The survey participants, hailing from Michigan, Nevada, Ohio, Montana, Pennsylvania, and Arizona, took part in a 10-minute online survey conducted between April 4 and 16, 2024. To participate, they had to be residents of the United States, at least 18 years old, and registered to vote.
The survey also highlighted that swing voters have a lack of trust in political candidates who interfere with cryptocurrency developments, especially those who demonstrate a lack of understanding of the technology.
In conclusion, the survey findings indicate that voters in swing states recognize the outdated nature of the current financial system but are not fully convinced that crypto is the solution. The opinions on crypto vary significantly between those who have experience with it and those who do not. Additionally, swing voters place importance on a politician’s stance on crypto when making their electoral choices.