- The U.S. currently has a 26 million crypto-voting bloc.
- As per a report by Consensys and HarrisX, 92% of crypto holders would vote in the upcoming elections.
The upcoming U.S. elections have promoted cryptocurrency in a way the industry has never seen before. Both political parties have leaned toward the crypto market and even accepted donations in the form of crypto.
Amid this craze, a new political force has emerged, which many call the “crypto voting bloc.” There is an estimation that 26 million American voters are involved with crypto. They have the power to influence the election results severely.
What makes this crypto-voting bloc unique is its higher voter turnout. 92% of crypto holders have plans to vote actively in the upcoming elections. A study by Consensys and HarrisX revealed this.
The Power of the Crypto Voting Bloc
Recently, a nationwide poll was conducted by The Digital Chamber. It is a crypto advocacy group.
The respondents were from both sides, Republicans and Democrats.
The results revealed that the crypto is ready to set the future of the elections. 60% of the crypto owners are Gen Z and millennials. 1 in 7 U.S. voters associate themselves with the crypto voter bloc. This makes up 16% out of 1,004 respondents.
According to them, a pro-crypto stance would play a net positive role in deciding whom to vote for. The black voters are currently leading this race. Per the survey released on 17th Oct, 40% of black voters consider crypto to play a significant role while voting in the upcoming U.S. elections.
4 out of 10 black American voters are in support of this stance. These are double numbers compared to white voters who agree with this.
Voter’s Perception of their Favorite Candidate’s stance
Kamala and Trump’s supporters think their favorite leaders are more pro-crypto than the opponent. Trump supporters believe he will introduce more pro-crypto policies if he comes into power.
The same goes for the case of the current Vice President Kamala Harris. Following that, both presidential candidates promised the same and showed positive signs.
When asked about Trump’s position on crypto, 21% of his supporters think he is firmly in support. 19% believe he somewhat supports, and 9% consider him neutral.
Harris’s supporters also showed mixed reactions to Trump’s stance on crypto. 8% believe he strongly supports the crypto industry, 13% think he mildly supports crypto, and 8% consider he doesn’t care much.
Conversely, regarding Harris’s position, only 4% of Trump supporters think she is positive for the industry. 4% think she is slightly supportive, and 14% of the supporters believe she is neutral.
15% of the Kamala supporters hope she will back the crypto industry. 6% did not react pleasantly, but they believed that she would be supportive, but not much. 18% are neutral on their stance.
As per the crypto voting bloc members, the newly elected president and Congress should support crypto. It should be at least their medium-level priority. 1 in 3 Democrats and 1 in 4 Republicans believe it should be either a “high” or “very high” priority.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
