Seven out of every ten respondents report having invested, with nearly one in five (19%) stating they possess cryptocurrency holdings.
The upcoming United States Presidential elections in November are expected to place a significant spotlight on cryptocurrency, according to a recent survey sponsored by crypto asset manager Grayscale. Conducted by Harris Poll between November 27 and 29, 2023, the survey polled 1,759 individuals aged 18 and older who intend to vote. It revealed a growing recognition of cryptocurrency’s importance among voters.
This heightened significance is underscored by the notable shift in stance from former President Donald Trump. Despite being a vocal critic of Bitcoin during his presidency, he now publicly endorses it and supports various other crypto-related initiatives. Similarly, the Biden administration has signaled a noteworthy policy shift in favor of cryptocurrency, reflecting a broader trend among political figures. Even candidates like Robert F. Kennedy Jr. have expressed support for the crypto space.
The survey findings indicate that 73% of respondents believe it’s crucial for presidential candidates to possess an informed understanding of emerging technologies like cryptocurrency and artificial intelligence (AI).
One out of every three American voters indicated that they would take into account a political candidate’s stance on cryptocurrencies when casting their vote.
An overwhelming majority of respondents (98%) were familiar with Bitcoin. Additionally, a significant portion of participants were aware of Ether (ETH), with only 46% stating that they were unaware of it.
Approximately 17% of voters disclosed that they had invested in Bitcoin, a figure nearly equivalent to those who stated they owned bonds and notably higher than those who claimed ownership of exchange-traded funds (ETFs).
Seven out of every ten participants report having made investments, with nearly one-fifth (19%) indicating ownership of cryptocurrency. This proportion rises among male participants (23%), as well as among Black and Hispanic respondents (26% and 32% respectively), and those in younger age groups, particularly Gen Z (31%).
The majority state that their interest in cryptocurrency has been heightened by inflation. Furthermore, 40% of investors express intentions to incorporate cryptocurrency into their future portfolios.
Based on the survey findings, a higher proportion of Gen Z and Millennials allocate their investments towards cryptocurrency rather than traditional assets like stocks and bonds. Specifically, 31% of Gen Z and 35% of Millennials have opted to invest in cryptocurrency.
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