Bitcoin’s Growing Influence in U.S. Elections

Driven by macroeconomic events and its maturation as an asset, bitcoin is attracting more and more U.S. citizens. Grayscale’s most recent poll indicatedThe topic’s relevance in the forthcoming November election is highlighted by the fact that over 47% of American voters expect to have crypto in their portfolio.

According to the poll, over 32 percent of voters claimed they were more receptive to learning about cryptocurrencies as investments. The fact that 28% of voters identified inflation as the most urgent problem facing the forthcoming U.S. election would help to justify this.

According to the survey, more U.S. voters are seeking bitcoin due to geopolitical uncertainty, contentious political debate, and ongoing inflation, but significant events involving the token include the approval of spot bitcoin exchange-traded funds.

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“It seems clear that crypto will progressively be considered by legislators and candidates across all offices that are preparing to run for office in the 2024 election,” Grayscale pointed out.

Declaring that the United States must establish a leadership position in the worldwide crypto race, former President and current 2024 leading Republican candidate Donald Trump has lately openly expressed his support for the U.S. crypto economy.

Responding to Trump’s vocal support for cryptocurrencies, billionaire Mark Cuban noted that the current regulation of crypto might influence the outcome of the 2024 election. “If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the SEC,” Cuban said on an X post.

Prior to Trump’s pro-crypto announcement, Grayscale’s poll revealed that opinions among voters on which party best supports the crypto sector are divided. Thirty percent apiece, an equal proportion of voters claimed that the Democratic and Republican parties have the most positive opinions on crypto policy.