A recent Grayscale national survey has revealed the relevance of Bitcoin and the crypto community in the politics of the US, as 73 percent of respondents believe a potential president has to be crypto-savvy. The survey dubbed “2024 Election: The Role of Crypto” was run by The Harris Poll on behalf of Grayscale.
“73% say presidential candidates should have an informed perspective on innovative technology, like AI or crypto,” said the survey.
The survey, run online within the US between the 27th and 29th of November, spanned a population of 1,759 people aged 18 and above. All the respondents planned to cast their votes in the 2024 presidential election and presented interesting insights, including how being knowledgeable in crypto can be a presidential candidate’s advantage.
Crypto Optimism Soars: Gen Z and Millennials Ride the Future of Finance
As per the survey, more Millennials and Gen Zs (35%; 31%) own more crypto than equities. Similarly Millennials (58%) and Gen Zs (54%) believe that crypto and the blockchain are the future of finance. The more interesting part is that a staggering population of these young people have a strong propensity to invest in crypto.
“…a substantive majority (68% for ages 18-34) agreed that they would be “much” or “somewhat” more likely to invest in crypto if there were clearer policies and/or regulations,” said the survey.
Gen Z’s and Millennials have been a strong influence and major market players in the crypto economy. And these statistics correlate with reports from other reputable sources on the influence of GenZs on the crypto ecosystem.
According to a joint report by the FCA (Financial Conduct Authority) and FINRA (Financial Industry Regulatory Authority), one out of every five US Gen Zs between the ages of 18 and 25 “are currently invested in cryptocurrency and/or non-fungible tokens (NFTs) only.” These Gen Zs are characterized by their general proclivity towards risk-taking, with almost half (46%) willing to take substantial or above-average financial risks.
Diverse Voter Backgrounds Embrace Crypto as an Investment
About 70 percent of all respondents reported investing in an asset, with almost 20% owning a cryptocurrency, majorly men (23%), Black (26%) and Hispanic (32%) voters and an impressive 31% of Gen Zs.
These figures are proof that crypto is taking the center stage regardless of the crypto economy facing very turbulent times, beginning with the FTX collapse last year, down to Binance’s woes with the US Justice department and other events in-between.
From the report also, a larger percentage regards inflation as “the most pressing problem in America right now.” This majority outlook on inflation intertwines with the increased interest in Bitcoin as a defense against inflation concerns because of its deflationary supply mechanism.