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This is the second part of this article. Here is the first part.
With Grayscale’s survey shedding light on voter attitudes towards crypto, we can see how it’s influencing political choices. In this second part of the discussion, we’ll look at its effects on the election.
What Are Voters Thinking About Political Parties and Crypto?
The poll shows that the voters have a rather divided view of the two large political parties when it comes to crypto. Holders are fine with what the Republican and Democratic parties are doing on crypto policies. 42% of holders are saying that the Republican Party supports positive crypto policies. 45% are also stating the same about the Democratic Party. Still, they do not have any clear perception because 34% of non-crypto owners have yet to decide which party is more pro-crypto.
There’s been a shift in favorability towards the Republican Party since May 2024. More potential voters now see the Republican Party as a better ally for digital asset users.
Source: Grayscale Report
Financial Privacy: A Key Concern for Voters
According to the survey, 34% of voters think the Republican Party is better at protecting financial privacy for investors. But only 32% trust the Democratic Party. Some of the test participants expressed this concern, and this may be because of their age or gender. They state that men are more likely to side with the Republican agenda, while Millennials are for the Democrats.
Embracing New Technologies
Since more people will own digital assets, it is up to political executives to understand the trends. 83% of those with crypto investments said political executives have to embrace technology to protect their countries. The same opinion holds for the rest of the population not investing in digital assets but has a similar rate of perception.
A lot of people are oblivious to the fact that crypto interests have spent more on this election cycle than big oil. Let that sink in.
The Crypto Industry Could Decide the Fate of the Senate: “Crypto industry super PACs have now poured $120 million into 2024 elections, backing a…
— Dave Troy (@davetroy) September 27, 2024
Crypto as a Deciding Factor in Voting
The crypto knowledge of a candidate is an unarguable factor in choosing a candidate to vote for. Out of all the people who own crypto, a significant high of 78% invested in politicians who supported blockchain, while 50% of non-holders did the same.
It underlines the expectation of voters to see the application of new technologies such as AI and blockchain.
Crypto now important to 49% of US voters across both parties
via @hardeyjumoh https://t.co/Wh6gx0efyV
— CryptoSlate (@CryptoSlate) October 2, 2024
The Bigger Picture
Cryptocurrency has positioned itself in political discussions. Voters, especially crypto users, want to know how their preferred candidates view this topic. If politicians want to secure votes from this growing demographic, they need to be wise.
A notable part of the electorate considers this sector as the future of finance, so politicians should pay attention to these shifting sentiments.
𝗝𝗨𝗦𝗧 𝗜𝗡: 33% of US voters say that they will weigh presidential candidates’ Bitcoin and crypto views.
That’s over 80 million voters who are likely to vote for Trump.
The first Bitcoin election is here.
— Lark Davis (@TheCryptoLark) May 28, 2024
Conclusion
Crypto influences voters’ choices for the 2024 election. When the candidates are strategizing on how they can make it to the White House, it will be smart if they include their knowledge of digital assets. This is the key to the success of the election.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post Grayscale Report: The Role of Crypto in the 2024 Election—Part 2 appeared first on Altcoin Buzz.
Nermeen Nabil Khear