Bitcoin’s significance is growing in anticipation of the 2024 U.S. Presidential election, as reported in a survey conducted by Grayscale. The survey reveals that Bitcoin’s prominence is increasing due to factors such as geopolitical tensions, risks associated with the U.S. dollar, and inflation. It also shows that 47% of voters include cryptocurrency in their investment portfolios.
Grayscale’s survey indicates that regulatory developments in the crypto industry are influencing voter perception. Nearly one-third of respondents stated that the approval of spot Bitcoin ETFs made them more interested in investing in Bitcoin.
At the time of publication, Bitcoin was trading at approximately $67,800.
Grayscale predicts that as the November election approaches, policymakers and candidates across all levels of government will increasingly consider cryptocurrencies.
Crypto has become a bipartisan issue, despite the differing views of Trump and Biden. Donald Trump, the leading Republican candidate, has largely embraced cryptocurrencies, emphasizing the importance of the United States being a leader in the field. On the other hand, Joe Biden, the current President, has advocated for increased regulation in the crypto sector.
Grayscale’s survey findings reveal that crypto ownership rates are almost equal among Republicans and Democrats. However, Republicans tend to prioritize economic issues, while Democrats are more interested in social causes. This may explain Trump’s recent focus on crypto during his campaign.
Given the close competition between Trump and Biden in the polls, their respective approaches to digital assets could have a significant impact on voters as they make their choices in November.
