Grayscale Survey Reveals Growing Significance of Bitcoin in Lead-Up to 2024 U.S. Presidential Election
Bitcoin’s prominence is escalating in anticipation of the 2024 U.S. Presidential election, where Joe Biden and Donald Trump are poised to contend for the White House once again, as per a Tuesday survey conducted by Grayscale.
The survey highlights Bitcoin’s increasing spotlight, attributed partly to geopolitical tensions, risks associated with the U.S. dollar, and concerns regarding inflation.
Notably, 47% of voters incorporate cryptocurrency into their investment portfolios.
Rising Voter Interest in Bitcoin
Grayscale’s findings suggest that regulatory advancements within the crypto industry are influencing voter perspectives, with nearly one in three respondents expressing heightened interest in Bitcoin investment following the approval of a spot Bitcoin ETF.
At the time of reporting, Bitcoin was trading around $67,800.
“As we approach November, it seems clear that crypto will increasingly be considered by policymakers and candidates across all offices that are preparing to run for office in the 2024 election,” stated Grayscale.
NEW POLL: With US elections on the horizon, American voters’ feelings about #crypto are coming into focus. Here are some of the findings from @HarrisPoll’s latest longitudinal survey on behalf of @Grayscale. 1/5
— Grayscale (@Grayscale) May 28, 2024
Read the full report: https://t.co/d3mMEASVh9 pic.twitter.com/YrAf0LCBs2
Crypto Emerges as a Bipartisan Concern
The survey underscores that cryptocurrency has swiftly emerged as a contentious political topic, with digital assets expected to play a pivotal role in several key races come November.
While Republican frontrunner Donald Trump has largely embraced cryptocurrencies, current U.S. President Joe Biden has advocated for enhanced regulation within the sector.
“I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry,” Trump conveyed in a recent post on Truth Social. “Our country must be the leader in the field. There is no second place.”
Conversely, Biden recently announced his intention to veto a resolution passed by Congress aimed at overturning the U.S. Securities and Exchange Commission’s (SEC) controversial staff accounting bulletin SAB 121.
Bipartisan Ownership of Cryptocurrency
Despite contrasting views on digital assets, Grayscale’s survey indicates that crypto ownership rates are nearly identical among Republicans and Democrats.
The study also suggests that Republicans prioritize economic issues, while Democrats exhibit greater interest in social causes, potentially elucidating Trump’s recent focus on cryptocurrency during his campaign.
As Trump and Biden remain neck-and-neck in the polls, their respective approaches to digital assets may prove critical for voters as they head to the ballot box in November.
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