In a recent study conducted by Consensys and HarrisX, published on October 2, 2024, it was found that crypto-friendly policies may influence voting decisions in the upcoming 2024 US presidential election. The study shows that 49% of US voters consider a candidate’s stance on cryptocurrency important when deciding their vote, with 27% of respondents more likely to support candidates who advocate for crypto policies. Among cryptocurrency owners, 85% favor presidential candidates who support pro-crypto policies, and 92% are committed to voting in the upcoming election. The survey highlights the importance of addressing crypto issues to appeal to this significant US voter demographic.
According to the survey, US voters are on average 13% more likely to support candidates who advocate for pro-crypto policies, with this figure rising to 58% among cryptocurrency owners. Voters are looking for improved consumer protections and clearer regulatory frameworks to boost their confidence in investing in cryptocurrencies. Despite the growing interest in crypto, many US voters across party lines still view it as “too risky,” which serves as a barrier to investment. The survey underscores the need for candidates to address these concerns and provide clarity on their crypto policies.
Furthermore, the survey reveals a gap in knowledge about cryptocurrencies among US voters, with only 17% reporting a strong understanding of crypto and more than half admitting to having little to no knowledge. Less than 10% were able to match crypto terms with their correct definitions in a knowledge test. As voters become more informed about cryptocurrencies, their preferences are likely to shape the political landscape. Candidates must focus on educating voters about crypto and addressing their concerns to win their trust and support.
As the 2024 US presidential election approaches, the survey shows that voters are divided on which political party they trust more on crypto policies. Republican candidate Donald Trump has openly supported cryptocurrency and criticized regulations imposed by the Biden administration, while Democratic candidate Kamala Harris has expressed her intent to support crypto and AI. The survey indicates that 56% of voters back Trump’s pro-crypto policies, while 55% favor Harris’s stance against restrictive SEC regulations. However, neither candidate has established a clear lead on crypto issues.
The survey also highlights interesting state-level trends, with voters in Pennsylvania, Michigan, Wisconsin, and Texas showing a slight preference for Republican candidates on crypto policies. However, in most of these states, Democratic candidates could gain more support by embracing pro-crypto policies. For example, 38% of voters in Pennsylvania trust Republicans on crypto policies, while 36% trust Democrats. With cryptocurrency becoming a key factor in how US voters trust and choose their candidates, it is essential for candidates to communicate their views clearly and address voter concerns to secure their support in the upcoming election.
Overall, the study conducted by Consensys and HarrisX sheds light on the significant role that crypto-friendly policies play in shaping voting decisions for the 2024 US presidential election. With a large percentage of US voters considering a candidate’s stance on cryptocurrency important and favoring pro-crypto policies, candidates will need to address these issues to appeal to this growing voter demographic. As cryptocurrency continues to gain traction, it is crucial for candidates to educate voters, provide clarity on their crypto policies, and establish themselves as trustworthy and reliable leaders in the digital asset space.
