The research, covering 1,201 respondents in six key swing states, provided insight into the thoughts and attitudes of American voters as the nation prepares for the upcoming election. Swing states, where either of the two major political parties could take control, represent the sympathetic regions that reflect the nation’s sentiment.

Majority of Swing State Voters Concerned About Financial System’s Obsolescence

Despite the unanimous recognition of the financial system’s inequalities, with 74% calling for a complete reform, only a third consider crypto-currency a viable solution, as stated in the report released on May 7.

The survey also pointed to a widespread feeling of disappointment with the current financial order, as no fewer than four out of every five respondents deplored its privileging of the elites over the common people. However, almost three-quarters of the participants were not persuaded that crypto was a more equitable substitute.

However, only 35% saw cryptocurrencies as a future form of transacting. This skepticism was deeper when responses between crypto-exposed and non-crypto-exposed were compared.

Crypto Skepticism Prevails Among Swing Voters Despite Growing Interest

A clear disparity emerged between current crypto holders and non-holders, with more than 90% of the former planning to increase their investment in the next six months, in stark contrast to only 7% of the latter, who plan to invest in the asset class.

Surprisingly, 76% of the participants who previously had or currently possess cryptocurrency referred to the positive influence on their financial well-being, implying a complex interplay between personal experience and perception.

The survey was held online, taking 10 minutes between April 4th and April 16th, 2024. The respondents were from several states, including Michigan, Nevada, Ohio, Montana, Pennsylvania, and Arizona. The eligibility criteria provided that one was a US resident, at least 18 years old, and a registered voter.

Apart from concerns about the financial system’s obsolescence, swing voters were also cautious about political candidates interference in cryptocurrency matters without strong technical knowledge of the underlying technology. This attitude stresses the increasing need for cryptoliteracy among politicians in dealing with the changes in the economic environment.

The survey provides a peek into the complex pattern of public sentiment where distrust of conventional systems lives beside a faint trust in new alternatives—that is, at a time when the nation is struggling with economic uncertainties and technological changes.

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The survey was conducted by YouGov on behalf of Policygenius in mid-October, with 4,063 Americans aged 18 and over participating, with an average margin of error of +/-2%. The findings reveal a stark contrast in investment preferences between generations, with only 33% of Boomers owning stocks and just 5% investing in cryptocurrency.

Myles Ma, a certified personal financial advisor at Policygenius, underscored the evolving wealth storage models of younger generations, which also include adopting new investments like cryptocurrency. Ma suggested that this change might indicate a willingness to take risks concerning young investors’ financial situations and could be influenced by factors such as housing shortage.

Interestingly, a similar conclusion was reached in May of the previous year by the Financial Industry Regulatory Authority Foundation and the CFA Institute. Their surveys revealed that about 56% of Generation Z own some type of investment, with 55% investing in cryptocurrency and 41% investing in individual stocks, highlighting the increasing popularity of digital assets among young investors.

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