A recent survey by the Chamber of Digital Commerce, now known as The Digital Chamber, has revealed that approximately 26 million American voters consider a candidate’s stance on cryptocurrency to be a key factor in their voting decisions for the upcoming 2024 elections.
According to the survey, released on October 17, around 16% of 1,004 respondents identified pro-crypto policies as “extremely” or “very” important when selecting a candidate.
These voters are part of what the report calls a “crypto voting bloc,” showing a strong inclination toward candidates who support cryptocurrency initiatives.
Crypto is Important for Both Democrats and Republicans
The findings demonstrate that both Democrats and Republicans are influenced by candidates’ views on crypto.
Notably, 25% of Democratic voters and 21% of Republican voters expressed that a pro-crypto stance would increase their likelihood of supporting a candidate.
Perianne Boring, the founder and CEO of The Digital Chamber, emphasized the significance of these results for political strategists.
“This bipartisan crypto voting bloc could tip the balance in what is expected to be a close race,” Boring said, adding that voters are signaling a desire for “smart, balanced regulation” that fosters innovation while protecting consumers.
The survey also highlighted differences in how various demographic groups view the importance of crypto policies.
Interestingly, two in five Black voters stated that crypto positions were crucial in their voting decisions, which is more than twice the percentage of white voters who felt the same.
This suggests that crypto-related issues may resonate more with certain minority groups.
Additionally, the majority of respondents from both major political parties agreed that supporting the cryptocurrency industry should be at least a medium-level priority for the next president and Congress.
Approximately one-third of Democrats and one-quarter of Republicans ranked it as a “high” or “very high” priority.
In contrast, a separate Pew Research report from last month showed that economic policy remains the top concern for most voters, with 81% indicating it as their primary issue.
Crypto did not feature prominently in the list of priorities for the 9,720 respondents surveyed by Pew.
For Republican voters, the economy, immigration, and violent crime were the top concerns, while Democrats prioritized healthcare, Supreme Court appointments, and the economy.
Crypto Owners Favor Trump
Crypto owners are more inclined to support former President Donald Trump, while those without digital assets lean towards Vice President Kamala Harris, according to a survey conducted by Fairleigh Dickinson University’s (FDU) Poll.
The survey, led by Dan Cassino, professor of government and politics and executive director of the FDU Poll, found that among these, 50% support Trump, who has recently become a vocal advocate for digital currencies.
In contrast, only 38% of crypto holders back Harris.
At the Bitcoin 2024 conference, Trump made bold promises to strengthen the U.S. position in cryptocurrency, vowing to dismantle regulatory barriers and establish a national reserve of Bitcoin.
“The day I take the oath of office, Joe Biden’s and Kamala Harris’s anti-crypto crusade will be over,” he declared.
The former president’s campaign has also embraced crypto donations, although regulatory limits forced the return of $1 million in Bitcoin contributions from Tyler and Cameron Winklevoss.
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