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Crypto players are diverse and have the potential to be influential in key battleground states, according to a study released July 11 by Coinbase. In the upcoming US presidential election, cryptocurrency continues to be a highly debated topic among candidates and voters alike.
Coinbase‘s research found that crypto players will “make a big difference,” especially in important races. One-sixth of crypto holders live in seven key battleground states. According to the research, crypto players are “younger and more diverse,” with Generation Z and Millennials making up 65% of registered crypto-owning voters. 40% of registered voters live in swing states where both the Democratic and Republican candidates can win.
Registered voters who own crypto make up 35% of non-white voters, indicating that crypto players are a diverse group. Not only are these voters younger and more diverse, they also show they are active in the political race; 9 out of 10 registered voters who own crypto plan to vote in the November 5 elections. Additionally, these voters indicated that they were four times more enthusiastic about voting for a pro-crypto candidate.
This group of voters also proved more bipartisan; 35% said they were Democrats, 34% were Republicans, and 31% said they were persuadable about which party they belonged to.
These statistics were similar among crypto-holding registered voters in swing states. Overall, crypto players are eager to see a more innovative and pro-crypto candidate who supports the industry.
Some in the crypto space have even formed non-partisan organizations to influence US crypto voters. For example, the Bitcoin Voter Project launched by Stand With Crypto and a group of mining executives.
Candidates have begun to capture the momentum of crypto votes, and some researchers suggest they may be using crypto to influence election results and turnout.
Initially, Republican candidate and former president Donald Trump appeared to be a more crypto-friendly option, but his true intentions were questioned. Current president and Democratic candidate Joe Biden initially received criticism from the community for not being as pro-crypto as his opponent.
Robert Kennedy Jr., the first presidential candidate to accept campaign donations in Bitcoin. and Donald Trump have both vowed to oppose the development of central bank digital currency (CBDC) in the United States.
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