The upcoming United States Presidential elections in November will center around the topic of cryptocurrency, according to a recent survey sponsored by Grayscale, a crypto asset manager. The survey, conducted by Harris Poll on behalf of Grayscale between November 27 and 29, 2023, gathered insights from 1,759 eligible voters. The findings highlight the increasing importance of cryptocurrency in the minds of voters.
Notably, the significance of cryptocurrency in this election season is demonstrated by former President Donald Trump’s change in stance. While he was a vocal critic of Bitcoin (BTC) during his time in office, 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, including Robert F. Kennedy Jr., have expressed their support as well.
The survey reveals that 73% of respondents believe that presidential candidates should have a well-informed perspective on innovative technologies like cryptocurrency and artificial intelligence (AI). Furthermore, one in three voters stated that they would consider a candidate’s position on cryptocurrencies before casting their vote.
Nearly all of the surveyed individuals (98%) had heard of Bitcoin, and a significant number also mentioned Ether (ETH), with only 46% claiming to have never heard of it. Interestingly, over 17% of voters reported having invested in Bitcoin, a percentage that rivals the ownership of bonds and surpasses that of exchange-traded funds (ETFs).
In fact, seven out of ten respondents revealed that they have invested in cryptocurrency, and almost one in five (19%) said they currently hold crypto assets. This percentage is higher among men (23%), Black and Hispanic voters (26% and 32% respectively), and younger voters from Generation Z (31%).
The survey also found that a majority of people believe that their interest in cryptocurrency has been fueled by rising inflation. Additionally, 40% of investors stated that they plan to include crypto in their future investment portfolios.
Among the different age groups, the survey found that Gen Z and Millennials are more likely to invest in cryptocurrency compared to traditional assets like stocks and bonds. Specifically, 31% of Gen Z and 35% of Millennials have invested in cryptocurrency.
In conclusion, the survey conducted by Grayscale provides valuable insights into the role of cryptocurrency in the upcoming United States Presidential elections. It highlights the changing attitudes of candidates towards crypto, the expectations of voters regarding candidates’ knowledge of innovative technologies, and the increasing popularity of cryptocurrency among different demographics.