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For the first time, cryptocurrency is a factor in US elections — Survey

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US Elections

According to up to 73% of US respondents who presently possess cryptocurrencies, a candidate’s stance on the subject will affect how they vote in the upcoming presidential election.
The upcoming US presidential election will probably involve cryptocurrencies like Bitcoin since more and more US crypto investors are worried about the candidates’ plans to regulate the sector.

A recent report by the cryptocurrency exchange Gemini, founded by the Winklevoss twins, indicates that a significant portion of American cryptocurrency owners intend to take the candidates’ positions on crypto regulation into account when they cast their ballots in November.

Gemini’s most recent “Global State of Crypto” study, which was released on September 10, included a survey of 6,000 adults that was representative of a random sample of consumers in the US, UK, France, Singapore, and Turkey. Online responses to the survey were accepted from May 23 until June 28, 2024.

73% of US cryptocurrency owners intend to check out a candidate’s cryptocurrency platform.

Gemini’s research indicates that up to 73% of US respondents who are now cryptocurrency owners stated that their vote would be affected in some way by a candidate’s position on the technology.

Furthermore, 37% of participants expressed that their vote would be significantly impacted by a presidential candidate’s stance on cryptocurrency.

US Elections
Three in four crypto owners say crypto policy will impact the US presidential vote. Source: Gemini


Gemini claims that the survey’s findings demonstrate the increasing significance of cryptocurrencies in the current US presidential contests:

“In a presidential election, cryptocurrency has emerged as a major campaign issue for the first time in American history.”

For former cryptocurrency holders and non-holders, regulatory worries are a hurdle.

In addition to other findings from the survey, Gemini discovered that respondents were becoming more concerned than in 2022 about regulatory uncertainty as a deterrent to cryptocurrency investment.

Regulatory worries were mentioned by 38% of US respondents in 2024 as a deterrent to investing in cryptocurrencies, a marked increase from 28% who said the same two years prior.

US Elections
Percentage of past owners and non-owners citing regulatory concerns as a barrier. Source: Gemin



According to the study, US investors appear to be moving toward cryptocurrencies in spite of growing worries over laws surrounding them in the past few years.

In 2022, 75% of US respondents said they had no exposure to cryptocurrency; by 2024, that number had reduced to 65%. While previous owners climbed from 5% in 2022 to 14% in 2024, the number of cryptocurrency holders increased marginally from 20% in 2022 to 21% in 2024.

US Elections
Crypto ownership by country in Gemini’s 2024 Global State of Crypto report. Source: Gemini



According to several earlier surveys, there has been a decline in the number of US individuals claiming exposure to cryptocurrency in recent years.

Only 7% of US people asked in the US Federal Reserves Survey of Household Economics and Decisionmaking said they used cryptocurrency in 2023, a sharp decrease from 10% in 2022 and 12% in 2021.