Why cryptocurrency owners could impact the U.S. presidential election
Cryptocurrency could influence the next U.S. presidential election, as crypto investors emerge as a key voting bloc. Between 7% and 21% of Americans own crypto—around 18 to 50 million people. Research from Gemini shows that 73% of crypto holders consider candidates’ stances on digital currencies when voting.
Crypto voters could be decisive in swing states. Groups like the pro-crypto PAC, Stand with Crypto, are mobilizing advocates in battleground states. Arizona and Georgia, for instance, have more crypto advocates than the margin Biden won by in 2020. "Digital assets are here to stay," says Patrick Gerhart, a Telcoin executive, stressing the importance of understanding crypto voters.
The crypto industry is investing heavily this election cycle, with PACs like FairShake raising over $200 million to back pro-crypto candidates. With regulation on the line, candidates are noticing. Donald Trump, who once called crypto a scam, is now pledging to support the industry, even headlining a major bitcoin conference. However, some crypto advocates doubt his commitment to these promises.
