Recently, Kraken, a United States-based cryptocurrency exchange, went out on a limb with a surprisingly unexpected prediction for the 2024 presidential election: Crypto voters might be the ones to decide it.
A new study revealed that with different candidates’ views on cryptocurrency likely to drive disparate voter behavior, a powerful “crypto voting bloc” has emerged that could amount to as many as 26 million American voters whose voices will be critical to determining the occupant of the White House.
Kraken Survey Suggests Crypto Voters Could Influence the 2024 Election
Kraken recently suggested that young, tech savvy crypto voters could indeed impact the 2024 election. One of the oldest crypto exchanges believes in incoming prosperity after the elections. So far it announced the launch of its own blockchain early next year. Called Ink, the blockchain will host decentralized applications that enable trading, borrowing, and lending of tokens independently and without intermediaries involved.
Against the 2024 electoral backdrop, cryptocurrency falls very low on most voters’ lists of priorities, often barely blipping on the political radar. Yet it still makes big political waves, its ideas pushing up to top candidates.
While it is still a minor presence in the mainstream consciousness, its influence on policy and campaigning positions underlines crypto’s expanding presence in the political world – at least according to Kraken new survey.
Could the 2024 election be swayed by crypto voters?
Our survey of crypto holding Americans indicates it just might be.
Let’s dive in to our survey numbers
pic.twitter.com/5g8J2XUPHP
— Kraken Exchange (@krakenfx) October 25, 2024
A recent survey from Kraken reveals a striking shift in voter sentiment around crypto, with nearly half of Americans calling it “very important” for the next president to include crypto-specific policies in their economic agenda.
Voters Push for National Policies Beyond Personal Profit
Crypto is a crucial issue for voters planning to head to the polls in November, and it’s not just about personal profit.
The crypto holders are hungry for more protection and security for the consumer. However, they also think crypto is a vital role player that would help strengthen the US economy. Fully 92% of crypto voters are optimistic that cryptocurrencies and blockchain technology have the potential to help modernize the economy, provide new jobs, and offer new opportunities across the nation.
A near-majority, 63.84%, are “very hopeful” about crypto’s transformation of the economy. This optimism extends to a broader confidence in America’s economic future, with over two-thirds of crypto voters being “very confident” that the US will stay the world’s largest economy through 2030 and another 25% somewhat confident.
Kraken report showed that notable 74% of these voters identify as “split-ticket” voters, focusing on issues over party lines, and over 80% say pro-crypto policies could directly influence their vote.
Overall, crypto users bring strong economic optimism to their views on the country’s future.
Americans increasingly expect elected officials to prioritize secure, accessible, and educational crypto solutions as they invest in this evolving digital landscape.
Crypto Industry Leads 2024 Election Spending with Over $160M, Targets Key Races
Crypto companies are disproportionately impacting the 2024 federal elections, investing over $160 million, more than any other industry.
After running ads against high-profile Democrats such as Sen. Katie Porter and Rep. Jamaal Bowman, both of whom lost their primaries, crypto-backed groups are turning their attention to down-ballot races such as Sen. Sherrod Brown’s Ohio race, where they have contributed an estimated $30 million in support of Republican Bernie Moreno.
Recently, political action committee Fairshake has poured nearly $40 million into Ohio since August to push against anty-crypto Senator Sherrod Brown.
These groups have not weighed into the presidential race, but the candidates know the power: Donald Trump furiously courts crypto-minded voters, hinting at a possible digital-asset play himself; Kamala Harris has begun recognizing crypto interests.
Moreover, if one can’t beat the crypto crowd in this election, the only thing to do is join them – at least nod in their general direction. And, as Kraken report shows – voters will recognize that.
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