A recent poll conducted by the Crypto Council for Innovation (CCI) highlights the potential impact of cryptocurrency voters in the upcoming 2024 US elections. The survey, involving 454 participants in December 2023, revealed significant ticket-splitting between Republican and Democratic candidates.
Crypto Voters: A Decisive Bloc
The CCI's poll suggests that individuals planning to participate in the 2024 elections, with a focus on cryptocurrencies, could become a pivotal "swing voting bloc." Tight races are evident in various polls, underlining the influence these voters might exert.
Digital Assets and Voting Preferences
According to the survey released on Jan. 2, respondents expressed a substantial interest in a candidate's stance on digital assets. Approximately 83% of those surveyed indicated that a candidate's position on cryptocurrency regulation was somewhat, very, or extremely important to their voting decision. Notably, 83% favored candidates supporting clear rules for cryptocurrency, aiming to foster industry growth.
Cory Gardner's Insights
Former US Senator Cory Gardner, serving as a political adviser for CCI, emphasized the enduring presence of crypto voters. Gardner stated, "Crypto voters are here to stay and are sending a clear message: they want Congress to prioritize cryptocurrency regulation." He highlighted the potential impact of this issue as a deciding factor in closely contested races.
Primary Concerns: Inflation and Cost of Living
The survey, encompassing 454 US voters, revealed that 89% viewed cryptocurrencies favorably. When deciding on the next president and Congress members, 31% identified inflation and the cost of living as their primary concerns. Interestingly, when presented with a choice between Joe Biden and Donald Trump in 2024, 51% favored Trump, while 46% leaned towards Democratic candidates in the House and Senate.
Significant Ticket-Splitting
The CCI pointed out that although crypto owners are more likely to support a generic Democratic candidate for Congress (by 4 points), these same voters would currently vote for Donald Trump over Joe Biden by a 10-point margin. This phenomenon is described as "significant ticket-splitting.
2024 Election Dynamics
As of now, President Biden and Trump are leading in their respective parties by substantial margins. Analysts suggest that a general election between the two could be highly competitive, possibly coming down to a coin-toss.
Challenges for Biden and Trump
Polls indicate that President Biden may have lost support from some Democrats due to his handling of the Israel-Hamas war. Meanwhile, Trump faces legal challenges and felony charges at state and federal levels following the events at the US Capitol in January 2021.
Upcoming Republican Caucuses
The 2024 election season kicks off with the Iowa caucuses on Jan. 15 for the Republican Party. Trump is currently polling around 30 points ahead of leading candidates Ron DeSantis and Nikki Haley, with pro-crypto candidate Vivek Ramaswamy polling at approximately 6%.
The evolving dynamics of the 2024 elections, combined with the influence of cryptocurrency voters, create a complex and competitive scenario. The alignment of candidates with clear cryptocurrency regulations could be a key factor in gaining the trust and support of this significant voting bloc.