As a seasoned analyst with over two decades of experience in the financial industry, I have witnessed the evolution of technology and its impact on our economy. The recent poll findings by Grayscale and The Harris Poll highlight an interesting shift in voter sentiment towards cryptocurrency, particularly Bitcoin.
As a researcher, I have found that over half of American voters tend to favor candidates who support cryptocurrency, as stated by Craig Salm, the chief legal officer at Grayscale, on October 16th.
Grayscale partnered with The Harris Poll, a market researcher, to poll US voters on attitudes toward cryptocurrency, Salm said during an interview with Janet Alvarez on Serious XM Business Radio.
According to Salm, the survey revealed that approximately 40% of Americans are paying closer attention to a candidate’s stance on Bitcoin as a digital currency compared to past elections.
“[C]learly, this poll shows that Americans do care whether a candidate is down on crypto,” he said.
As a crypto investor, I find myself eagerly anticipating the November U.S. presidential election, with two distinct candidates shaping up: Republican nominee Donald Trump, who’s expressed his aspirations to make America the global leader in cryptocurrency, and Democrat Kamala Harris, whose stance on the industry has been relatively low-key so far.
Vice President Kamala Harris appears more open to cryptocurrencies compared to President Joe Biden, but not as supportive of the industry as her predecessor, Donald Trump, according to Galaxy Research’s statement on October 14th.
Currently, as of October 17th, Kalshi, a platform for predicting election outcomes through betting, estimates that Donald Trump has a 57% chance of being elected, while his competitor Kamala Harris has a 43% probability.
On the Polygon network’s decentralized platform, Polymarket, users are showing increased optimism towards Donald Trump, with estimated chances of approximately 61%, compared to about 38% for Kamala Harris.
Inflation continues to impact voters
Based on Salm’s findings, approximately one-third of those surveyed identified inflation as the major issue facing America today. It’s situations like these that make digital assets such as Bitcoin potentially useful.
It’s no wonder that with Bitcoin, Ethereum, and similar cryptocurrencies offering protection against inflation and being considered as a form of savings, it makes perfect sense that American voters are becoming more interested in the candidates’ views on cryptocurrency, according to Salm.
Come September, Harris ramped up her interest in cryptocurrencies. She included blockchain technology among a number of innovative areas where she aims to keep the U.S. as a leading force.
Additionally, our findings indicate that cryptocurrency is moving beyond political parties. Some people prefer to label it as bipartisan, but we think it’s more accurate to describe it as non-political or nonpartisan, according to Salm.
As reported by Grayscale itself, it currently manages over $20 billion in cryptocurrency assets, making it the world’s leading crypto asset management firm as of October.
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2024-10-17 21:12