Image credit: Joshua Hoehne/Unsplash

Disclaimer: This story was originally published on May 29, 2024.

‍

In the lead-up to the 2024 United States Presidential elections, a significant portion of voters is closely watching for candidates’ stances on cryptocurrency.

According to a recent survey by Harris Poll, sponsored by Grayscale, 46% of US voters are waiting for clear crypto policies before deciding to invest. This reflects a broader trend where crypto is becoming a key issue for many voters, particularly amid ongoing concerns about inflation.

The survey, conducted between Nov. 27 and 29, 2023, included 1,759 US adults who plan to vote. It revealed that 73% of respondents believe presidential candidates should have informed perspectives on innovative technologies like crypto and artificial intelligence (AI). This sentiment underscores the increasing importance of crypto in political discourse.

Additionally, the survey found that 19% of respondents currently hold crypto assets, with higher percentages among men (23%), Black and Hispanic voters (26% and 32%, respectively), and younger voters (31% of Gen Z). Notably, Gen Z and Millennials are investing in crypto at higher rates than traditional assets like stocks and bonds, with 31% of Gen Z and 35% of Millennials reporting crypto investments.

Voters also indicated that inflation has heightened their interest in crypto, with 40% of current investors planning to include crypto in their future portfolios. Around 32% of voters expressed increased openness to learning about crypto as an investment, highlighting its growing relevance in the economic and political landscape.

As the 2024 elections approach, the survey suggests that candidates' positions on crypto could influence voter decisions, making it a crucial issue for policymakers and candidates alike.

The growing role of crypto in the current election season is highlighted by significant shifts in stance from key political figures. Former President Donald Trump, previously a staunch critic of Bitcoin, now endorses it and supports various crypto-related initiatives. Similarly, the Biden administration has pivoted towards a more favorable stance on the asset class. Other candidates, like Robert F. Kennedy Jr., have also voiced support for crypto, reflecting its increasing importance in political discourse and policy-making.