The upcoming US general election in November 2024 will be influenced by cryptocurrency and the divisions between policymakers for and against it, according to a recent survey by Grayscale. The survey, called “2024 Election: The Role of Crypto,” was conducted on Grayscale’s behalf by The Harris Poll. It found that high inflation is a top concern for voters, highlighting Bitcoin’s potential as an inflation hedge. Additionally, the survey revealed that 46% of voters are waiting for additional crypto policies before investing, indicating a need for regulatory clarity. Young voters who own crypto are also considering candidates’ positions on digital assets when making voting decisions.
Campaigning for pro-crypto candidates has gained momentum, with Coinbase mobilizing the more than 50 million Americans who own crypto to stand up against legislation and policymakers aiming to crack down on it. There is growing distrust among crypto owners towards the banking industry, as seen in Elizabeth Warren’s involvement in crafting the Digital Asset Anti-Money Laundering Act. Instead of focusing efforts on ousting Warren from her Senate seat, finance lawyer Scott Johnsson suggests targeting vulnerable seats that have supported her crusade.
Hot Take: Crypto’s Influence on the 2024 US Elections
Cryptocurrency is set to play a significant role in the upcoming US general election in 2024. The Grayscale survey highlights how high inflation concerns and a desire for regulatory clarity are shaping voters’ opinions on digital assets. With young voters considering candidates’ positions on crypto and a growing base of over 50 million crypto owners, pro-crypto candidates have the potential to gain support from this influential group. As distrust towards the banking industry grows, policymakers should pay attention to the demands and concerns of crypto owners if they want to secure votes in the upcoming elections.
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