Geopolitical tensions and inflation have prompted an increasing number of American voters to turn to Bitcoin, according to a recent Harris Poll survey of likely U.S. voters.
Funded by Bitcoin ETF issuer Grayscale, the survey reveals that one in three U.S. voters will consider a political candidate’s stance on cryptocurrencies before deciding how to vote.
Surge in Voter Interest in Crypto
The poll included responses from over 1,700 likely U.S. voters. It revealed that 77% believe U.S. presidential candidates should at least have an “informed perspective” on cryptocurrencies.
NEW POLL: With US elections on the horizon, American voters’ feelings about #crypto are coming into focus. Here are some of the findings from @HarrisPoll’s latest longitudinal survey on behalf of @Grayscale. 1/5
Read the full report: https://t.co/d3mMEASVh9 pic.twitter.com/YrAf0LCBs2
— Grayscale (@Grayscale) May 28, 2024
The survey found that 41% of likely voters are paying closer attention to Bitcoin and other crypto assets due to geopolitical tensions, inflation, and a weakening U.S. dollar, an increase from 34% in November 2023.
Furthermore, 47% of respondents expect to include crypto in their investment portfolios, up from 40% the previous year. Inflation remains the top issue for voters (28%), increasing the appeal of assets like Bitcoin, which has a transparent and hard-capped supply.
Events such as the U.S. spot Bitcoin ETF approval in January 2024 and the halving in April 2024 have heightened voter interest in investing in BTC and other crypto assets, with 18% and 20% of voters, respectively, indicating increased interest.
Notably, 9% of retiree voters reported a greater interest in investing in Bitcoin or crypto assets following the ETF approval.
Voters are Calling for Clear Crypto Regulation
Grayscale highlighted BTC’s strong performance in 2024, with its price reaching a new all-time high on March 13. This sparked speculation that the upcoming election could be dubbed “the Bitcoin Election.” The attention is not limited to BTC alone; it extends to a broader range of crypto assets. Nearly a third of voters (32%) reported being more open to learning about or investing in crypto since the beginning of the year.
The survey also revealed that voters increasingly view crypto as a good long-term investment opportunity, with 23% endorsing this view compared to 19% in November 2023. Clearer regulations could further boost crypto’s appeal among voters. The survey found that 52% of voters would be more likely to invest in crypto with clearer policies, up from 48% in November 2023.
A significant majority (79%) agreed that political leaders should work towards creating frameworks and rules that enable financial inclusion and investor protection.
Presidential candidate Donald Trump has recently taken a pro-crypto stance. Reports indicate he asked David Bailey, CEO of Bitcoin Magazine and a crypto aide to the Trump campaign, if Bitcoin could be leveraged to solve the U.S. national debt problem.
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