The approaching United States elections set for November have the potential to serve as a pivotal moment for the American crypto industry, primarily due to the divergent views held by candidates regarding digital assets. According to popular crypto exchange Coinbase, individuals who are part of the crypto community are likely to play a significant role in determining the outcomes of crucial races, including the presidential contest. Recent research conducted by the platform revealed that there are approximately 52 million Americans who own cryptocurrencies, with one in every six residing in important battleground states.
It was found that crypto owners in the United States tend to be younger, more diverse, and share a common goal of increasing their wealth through digital assets. Generation Z and millennials combined make up 40% of registered voters in battleground states, with a striking 65% of them being crypto holders. Additionally, non-white individuals account for 23% of registered voters in swing states, and among them, 35% own cryptocurrency. This suggests that the crypto community is a diverse group that spans various demographic categories.
Interestingly, the study also revealed that crypto users in the United States do not adhere to a specific political party, as they are bipartisan in their approach. Out of the 41% of registered voters in battleground states who are leaning towards the Republican Party, 34% are crypto owners. Conversely, 35% of individuals supporting the Democratic Party in these states own digital assets. This bipartisan nature of the crypto community indicates that the appeal of cryptocurrency transcends political boundaries.
One of the most compelling findings of the survey is the enthusiasm displayed by crypto owners towards the upcoming elections. A staggering nine out of ten crypto holders expressed their intention to vote on November 5 during the presidential election. Furthermore, they are four times more likely than the general population to support candidates who have a pro-crypto stance. Coinbase emphasized that these enthusiastic crypto voters are poised to have a substantial impact on the races that will determine the outcome of the 2024 election.
The influence of crypto voters in the upcoming United States election cannot be underestimated. With a sizable population of crypto owners in crucial battleground states, their diverse demographics, bipartisan approach, and unwavering enthusiasm for participating in the democratic process indicate that they will play a pivotal role in shaping the future of the American crypto industry through their votes.
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