As the 2024 US presidential election approaches, a significant portion of American voters are showing increasing interest in Bitcoin and other cryptocurrencies, according to a survey by Grayscale.
Bitcoin Becoming More Important in 2024 US Elections
The survey reveals that 47% of voters plan to include crypto in their investment portfolio, highlighting the growing importance of digital assets in political discourse.
The survey shows that 32% of voters are now more inclined to educate themselves about crypto investments.
This change in sentiment can be attributed to macroeconomic factors; 28% of respondents identify inflation as the most critical issue in the upcoming elections.
Amid ongoing geopolitical tensions, polarized political debates, and ongoing inflation, many Americans are turning to Bitcoin as a potential hedge.
Grayscale points to several key developments that are increasing Bitcoin's appeal, including the approval of spot Bitcoin exchange-traded funds (ETFs).
These developments are likely to attract greater attention from both policymakers and candidates.
“It seems clear that crypto will increasingly be taken into consideration by policymakers and candidates across all offices as they prepare to run in the 2024 elections,” Grayscale said.
Former President and 2024 Republican candidate Donald Trump recently voiced his support for the US crypto economy and defended American leadership in the global crypto market.
This stance drew criticism from prominent figures such as billionaire Mark Cuban, who suggested that the outcome of the 2024 elections could depend on the current administration's crypto regulations.
“If Joe Biden loses, there's a good chance you'll thank Gary Gensler and the SEC,” Cuban said in a post on X.
Polling conducted before Trump's pro-crypto comments revealed a divide among voters over party alignment with crypto policies.
An equal share of 30% of voters believe that both the Democratic and Republican parties are favorable to crypto.
*This is not investment advice.