According to a recent survey by the pro-crypto trade group The Digital Chamber, the US presidential candidate’s stance on crypto could be more significant than initially anticipated.
26 Million Voters In The “Crypto Voting Bloc”
The “crypto voting bloc” refers to a group of voters – both Republicans and Democrats – who consider digital assets either “very” or “extremely” important in determining their vote. These voters are more likely to support a candidate with a pro-crypto stance.
Of the 1,004 respondents surveyed, about 16%, or one in seven individuals, opined that digital assets will play a crucial role in helping them determine which candidate to support.
Interestingly, 25% of Democratic and 21% of Republican voters said they would prefer a pro-crypto presidential candidate. This contrasts with the commonly held notion that Republican voters are more concerned about digital asset regulations.
From a demographic perspective, nearly 40% of Black voters consider digital assets “extremely important” or “very important” in deciding who they will vote for in November 2024. In comparison, only 13% of white and 22% of Asian voters expressed the same sentiment.
The survey also revealed perception gaps among voters. For example, those planning to vote for Kamala Harris believe she is more supportive of digital assets than Donald Trump. On the other hand, Trump voters think he is more pro-crypto than Harris.
Notably, 34% of both Democratic and Republican voters said that the crypto industry should be at least a “medium” priority for the president and Congress. Additionally, 32% of Democratic and 27% of Republican voters stated that cryptocurrency should be a “very high” or “high” priority for the next administration.
Commenting on the findings of the survey, founder and CEO of the Digital Chamber, Perianne Boring, said:
Voters are sending a clear message – they want smart, balanced regulation that protects consumers without stifling innovation. Embracing a pro-crypto stance is a powerful opportunity for candidates to connect with this rapidly growing base.
The survey also found that individuals with greater familiarity with digital assets tend to hold a more positive sentiment toward digital assets. Similarly, Americans who are more knowledgeable about cryptocurrencies are more likely to trust government officials.
Harris And Trump Promise Positive Regulations
Both presidential candidates work hard to maintain or even increase electoral support from the so-called crypto-voting bloc.
Recently, Galaxy Research’s Alex Thorn explained that the digital assets industry may benefit under Harris as she is likely to be “more supportive” than Joe Biden. Notably, the Biden regime has been accused of stifling the emerging industry for its perceived hounding of businesses engaging with digital assets.
Meanwhile, a report by Bernstein predicted that Bitcoin (BTC) may climb as high as $80,000 to $90,000, following a Trump win. The firm also stated that the crypto community wants a clearer stance from Harris toward the emerging asset class.
Most recently, a filing with the Federal Election Commission revealed that Trump had received approximately $7.5 million in BTC, Ethereum (ETH), and XRP donations since early June. BTC trades at $68,807 at press time, up 1.9% in the last 24 hours.
Featured Image from Unsplash.com, Chart from TradingView.com
