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Candidates' positions on cryptocurrencies could play a key role in the 2024 White House race. A new study reveals the emergence of a significant “crypto voting bloc” that could represent 26 million US voters.
Cryptocurrency, new election issue emerges
The Digital Chamber of Commerce, a professional association for the digital asset sector, conducted a national survey of 1,004 American voters in September 2024. The results announced on October 15 highlight the growing importance of crypto-related policies in the American election landscape.
According to the survey, one in seven voters (14%) believe a candidate's position on cryptocurrencies is “very” or “extremely” important in deciding their vote. The group, known as the “crypto voting bloc,” will represent about 26 million voters, making it an important electoral force.
The political distribution of this bloc is particularly interesting. The survey found that 25% of Democrats and 21% of Republicans are more likely to vote for a pro-crypto candidate. This bipartisan trend highlights the cross-cutting importance of this issue.
Big impact on presidential election
The emergence of this cryptocurrency voting bloc could have a significant impact on the election strategies of presidential candidates. Perianne Bowling, founder and CEO of the Digital Chamber, believes these voters could “tip the balance” in a close race.
The findings also show that there is a strong correlation between interest in cryptocurrencies and certain demographic groups. Notably, two in five black voters say a candidate's crypto policies will have a significant impact on their vote, more than twice as many as white voters.
In response to this data, leading candidates are beginning to adjust their positions. Democratic candidate Kamala Harris recently voiced support for policies aimed at protecting Black investors. Donald Trump has proposed ambitious plans, including a national Bitcoin reserve and an innovation-friendly regulatory framework.
In summary, the “cryptocurrency voting bloc” is emerging as a new force in the American political landscape. As the race for the White House intensifies, candidates' positions on cryptocurrencies will become a key issue and could influence the outcome of the 2024 presidential election.
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Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
