Is Cryptocurrency Losing Its Importance for Trump and Harris? What’s Next for 93 Million US Crypto Users?

The recent debate between Donald Trump and Vice President Kamala Harris, while marked by contentious topics such as abortion rights, border issues, and international conflicts, notably overlooked cryptocurrency.

Both candidates have made strong statements on various issues, but their lack of focus on crypto could signal that the topic is not a priority for them. This omission is surprising given the increasing importance of digital assets.

Trump's recent endorsement of the crypto world, including his promise to dismiss SEC Chair Gary Gensler, has stirred considerable interest. This move has particularly resonated with Ripple supporters. However, it remains to be seen whether Trump will act on these promises or if they will remain campaign rhetoric.

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Growing Crypto Adoption in the US

According to security.org, cryptocurrency ownership in the US has risen significantly. As of now, 40% of adults own digital assets, a notable increase from 30% in 2023. This suggests that approximately 93 million Americans are involved in the crypto market.

The report highlights that 63% of current crypto holders plan to increase their investments over the next year. Popular choices include Bitcoin, Ethereum, Dogecoin, and Cardano. Additionally, female ownership has grown from 18% last year to 29% at the beginning of 2024.

Growing Interest in Bitcoin ETF Approval: Non-Owners Seek Regulatory Oversight, Current Holders Prefer Minimal Regulation

Current crypto holders are enthusiastic about expanding their investments, especially with hopes for a Bitcoin ETF approval by the SEC. This potential approval could also attract 21% of non-owners who have expressed increased interest in digital assets if such an ETF is approved.

Interestingly, 63% of non-owners advocate for greater government oversight of cryptocurrencies, believing that a regulated Bitcoin ETF could enhance their confidence in investing. Conversely, only 36% of current crypto holders feel that more government regulation is necessary.

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The lack of focus on cryptocurrency in the debate reflects a broader trend of political leaders prioritising other issues. As the number of crypto users continues to rise, it remains to be seen how future regulatory decisions will impact the market.