92% of digital asset holders intend to vote, and 85% consider candidates’ positions on the issue important.
A recent survey conducted by blockchain company Consensys and market research firm HarrisX highlights the growing importance of cryptocurrency policies in the upcoming 2024 U.S. presidential election. The results indicate that a significant portion of U.S. voters, particularly those who own cryptocurrencies, could be influenced by candidates’ positions on digital asset issues.
The research highlights voters’ demand for greater clarity regarding cryptocurrency regulation. Consumer protection, clearer guidelines, and greater transparency are among the main concerns.
Key findings
The survey found that 49% of voters in the United States consider cryptocurrency policies an important issue in choosing which candidate to support. Among cryptocurrency holders, this opinion is even stronger: 85% consider cryptocurrency policies important, and 92% intend to vote in the upcoming election.
The results suggest that voters, especially cryptocurrency holders, are willing to switch parties if opposing candidates adopt more favorable positions on digital assets. Specifically, the survey reveals that voters are 13% more likely to support a candidate who advocates pro-crypto policies, even if they belong to a different political party. Cryptocurrency holders show a greater propensity to change their support, with a 58% likelihood of voting for candidates from another party who support cryptocurrency initiatives.
The survey also examined voter preferences in certain states, such as Pennsylvania, Michigan, and Wisconsin. In Pennsylvania, 38% of voters trust the Republicans, while 36% prefer the Democrats. According to the survey, Pennsylvania’s Democratic Senate candidate, Bob Casey Jr., could see an 11% increase in voter support by adopting crypto-friendly policies, compared to a 4% gain for his Republican opponent, David McCormick. Similar trends were observed in Michigan and Wisconsin, indicating that the pro-crypto voter block could be decisive for election results.
Party perception
Regarding the perception of cryptocurrency alignment, the Republicans have a slight advantage: 35% of voters believe the party is suited to handle digital asset policies, compared to 32% for the Democrats.
In the survey, Trump received 56% support for his position, while Harris received 55% for her hypothetical opposition to restrictive SEC regulations. Additionally, 54% of voters are asking Harris to take a clearer stance on the cryptocurrency industry.
Currently, neither major political party holds a decisive advantage in terms of voter trust on the issue, meaning that clear and well-articulated positions could play an important role in winning votes.
Dritan Nesho, founder and CEO of HarrisX, emphasized the potential impact of pro-crypto voters:
“It’s no surprise that this voter block, which is up for grabs by either presidential campaign, could tip the scales in an election that increasingly looks likely to be decided by a thin margin.”
