Grayscale recently conducted a Harris Poll survey revealing significant changes in voter sensitivity towards cryptocurrency. Nearly half of American voters plan to include crypto in their investment portfolios, confirming its growing importance in the 2024 US Elections. According to the survey, 65% of Bitcoin owners see it as an investment in the future of blockchain technology.
Survey Results and US Elections
53% of respondents use Bitcoin as a currency, while 43% view it as a speculative asset. Specifically, 36% see Bitcoin as digital gold or an inflation hedge, and 8% do not fully understand it. Inflation has played a crucial role in shaping Bitcoin interest, with 21% of voters showing more interest due to rising inflation, 33% showing less interest, and 44% reporting no change.
Two out of five voters are waiting for more policies and regulations before investing in cryptocurrency. This trend is particularly strong among Gen Z and Millennials. Voter interest in crypto is increasing, with expectations rising from 40% in late 2023 to 47% in early 2024. Additionally, 44% are waiting for more regulatory clarity. 41% are more interested in crypto due to geopolitical tensions, inflation, and a weakening US dollar, while 39% want economic recovery before investing.
Crypto Process in America
Crypto ownership rates are similar among Republicans (18%) and Democrats (19%), with both sides showing balanced interest in crypto policies. About 30% of voters believe that both Democratic and Republican parties are positively positioning their crypto policies. Significant events like the approval of US spot Bitcoin ETF funds in January 2024 and the Bitcoin halving event in April 2024 have increased interest, especially among retired voters.
Despite growing recognition, the level of understanding of cryptocurrencies and blockchain technology remains far from high. A study by Preply highlights a significant knowledge gap among crypto investors. About 35% lack confidence in their understanding, and 60% struggle with blockchain technology concepts. Popular crypto terms like DAO, DEX, and ICO are frequently searched, reflecting intense curiosity.
As the 2024 US Election approaches, the impact of cryptocurrency on voter sensitivity and investment strategies is evident. Nearly half of the voters plan to include crypto in their portfolios, increasing the demand for clear policies and regulations. This trend underscores the critical role crypto assets will play in shaping the country’s political and economic future. Policymakers and candidates must address these emerging concerns to resonate with an increasingly crypto-aware electorate.
