[NEWS] US Presidential Election: Knowledge and policies on crypto assets could determine outcome - Grayscale Research

On the 20th, Grayscale, a major cryptocurrency management company, announced the results of an online survey of 1,759 voters conducted from the 27th to the 29th of last month regarding the US presidential election to be held in 2024. The results raised the possibility that cryptocurrencies could influence the outcome of the presidential election.

According to a survey commissioned by Grayscale and conducted by the American polling company Harris Poll, 73% of respondents believe that "presidential candidates should have an informed perspective on innovative technologies such as AI and cryptocurrencies."

It was also found that Gen Z and millennials own more cryptocurrencies (31% and 35%) than stocks (17% and 24%). On top of that, the majority of Gen Z and millennial voters answered that "cryptocurrencies and blockchain are the future of finance" (54% and 58%). A substantial majority (68% of 18-34 year olds) said they would be "very" or "somewhat" more likely to invest in crypto assets if there was clear regulation.

In addition, 26% of respondents said they were concerned about looming inflation. In such a situation, expectations for crypto assets are rising. According to the survey, 40% of investors indicated their intention to add crypto assets to their portfolio. Considering the current economic situation and future prospects, they were found to have a high interest in Bitcoin.

On the other hand, the percentage of respondents who are not interested in digital currencies was small, and they pointed out the need for extensive education on these technologies.

Over the past year, we have seen a variety of views on crypto assets expressed within and across political parties. Grayscale explained that the 2024 Bitcoin halving, the possible approval of a US Bitcoin spot ETF, and the possibility of the Federal Reserve lowering interest rates could lead to a rise in Bitcoin prices.

As voters' priorities change, the political landscape is also evolving. In some cases, digital assets such as cryptocurrencies have become a central theme in the campaigns of some candidates. It is pointed out that the focus may change as the 2024 presidential election approaches.

In light of this situation, this survey not only reflects the increasing interest of respondents in technology, but also strongly indicates the relevance of cryptocurrencies in the 2024 presidential election.

The US presidential election is approaching

There is a growing view that the US presidential election will be a battle between Joe Biden, the leading Democratic candidate and current president, and former President Donald Trump, who is the leading Republican candidate despite his legal issues.

The Democratic Party's primary election is scheduled for January next year in New Hampshire, but President Biden has decided not to make the state his first battleground state and is not expected to participate. The Republican Party's primary election is also scheduled to be held in New Hampshire in the same month.

New Hampshire has the highest proportion of independent voters in the mainland US, so the results of the primary election could have a significant impact on the direction of the US presidential election.

Reference:Report
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