As the 2024 US presidential election heats up, the role of cryptocurrencies, especially Bitcoin, is becoming a prominent topic. A national survey conducted by The Harris Poll on behalf of Grayscale shows that Bitcoin and other cryptocurrencies are becoming increasingly important in Americans' financial lives and in the year's presidential election 2024.
46% of voters said they are waiting for additional policies before investing in cryptocurrency. Half of young voters consider candidates' views on cryptocurrency before deciding to vote. Concerns about financial stability and inflation are dominating voters' minds. Many view Bitcoin as a hedge against currency decline, making it attractive in an election year. 19% of those surveyed own cryptocurrency, with ownership rates higher among men, African-American and Hispanic voters, and younger generations.
Younger voters (Gen Z and Millennials) show a higher rate of cryptocurrency ownership compared to stocks, and many believe that blockchain technology and cryptocurrency are the future of finance. 31% of Gen Z and 35% of Millennials own cryptocurrency, while only 17% and 24% respectively own stocks. 68% of voters aged 18-34 said they would invest in cryptocurrency if there were clearer policies and regulations.
The report also shows that presidential candidates have begun to express diverse views on crypto-related issues. Donald Trump is increasingly embracing cryptocurrency on the campaign trail, while Joe Biden has taken a more cautious stance.
Donald Trump will trigger a major bull run for Bitcoin if he wins: Financial Times
The phase 2 survey, which ran from April 30 to May 2, 2024, shows that interest in cryptocurrencies continues to grow: 47% of voters expect part of their investment portfolio to include including cryptocurrencies, up from 40% at the end of last year. 32% of voters said they are more open to learning about or investing in cryptocurrencies since the beginning of the year.
Cryptocurrencies are becoming a bipartisan issue with similar ownership between Republicans (18%) and Democrats (19%). 30% of voters say both parties have the most favorable stance on cryptocurrency policies.
