Grayscale Survey Reveals Growing Importance of Bitcoin in 2024 U.S. Election

A grayscale survey reveals that 47% of American voters plan to invest in crypto, with digital assets influencing 33% of voting decisions.

Key Takeaways:

  • Grayscale Investments is a digital asset management firm that allows investors to gain exposure to various cryptocurrencies.
  • The Grayscale survey polled responses from 1,759 adults who intend to vote in the 2024 election.
  • Around 47% of American voters plan to include crypto in their investment portfolios.
  • 33% of American voters said digital assets would influence their support for candidates.

Grayscale Investments is a well-known digital asset manager. The company offers various investment products for individuals and institutions. These products allow these entities to invest in cryptocurrencies such as Bitcoin without requiring investors to buy or hold the digital assets themselves.

On May 28, the asset manager released a survey conducted by Harris Poll between November 27 and 29, 2023. The Grayscale survey polled 1,759 adults who intend to vote in the US 2024 election. The Grayscale survey revealed that American voters are changing their perception of cryptocurrency in light of its role in the upcoming elections.

Grayscale Survey Finds 47% of Voters Will Invest In Bitcoin

According to the survey, nearly half (47%) of American voters intend to add crypto to their investment portfolios, emphasizing its prominence in the upcoming election. 

Moreover, 32% of the voters are becoming more receptive to learning about cryptocurrency as an investment option. This is likely driven by concerns about inflation, which 28% of respondents identified as the top election issue.

The survey also revealed that 33% of voters believe digital assets would influence their support for candidates. Notably, the approval of Bitcoin ETFs has sparked increased interest among retiree voters, with 9% becoming more interested in investing in Bitcoin or other crypto assets.

A significant 73% of respondents believe that US presidential candidates should have an informed perspective on innovative technologies such as cryptocurrency and artificial intelligence (AI). 

The Grayscale survey indicated that geopolitical tensions, polarizing political discourse, and ongoing inflation had driven more U.S. voters to consider Bitcoin. Additionally, major developments, including the approval of spot Bitcoin exchange-traded funds (ETFs), have also contributed to this trend.

The Grayscale survey showed that Bitcoin is popular. Almost all respondents (98%) had heard of crypto assets. A significant number (46%) were familiar with Ether. About 17% of voters reported investing in Bitcoin. Moreover, this percentage is notable, almost as high as those who own bonds. It's also much higher than those who hold ETFs.

What Does it Mean for the Upcoming US Presidential Election?

In response to the collected data, Grayscale noted that it seems clear that crypto will increasingly be considered by policymakers and political candidates preparing to run for office in the 2024 election.

Grayscale’s survey revealed that voters are divided on which political party is more favorable to the crypto industry. 

Recall that former President and the potential Republican candidate for the 2024 US election, Donald Trump, recently declared his support for the U.S. crypto economy. He emphasized the need for U.S. leadership in the global crypto race.
Enthusiasts believe that Trump stands a higher chance of gaining more votes, citing President Biden's extensive list of anti-crypto policies and legal actions.