Grayscale CLO: US Voters Lean Toward Crypto Candidates

According to a survey by Grayscale and The Harris Poll, nearly half of all U.S. voters are now more likely to vote for pro-cryptocurrency candidates. The poll, released Monday, Oct. 16, notes that crypto policy matters more in U.S. elections than ever.

Cryptocurrency is fast becoming a topic of political discussion as more Americans look to candidates for their stance on digital assets. Grayscale Chief Legal Officer Craig Salm discussed the findings in an interview with Serious XM Business Radio.

He stressed that voters increasingly apply a Bitcoin (BTC) and crypto asset lens when comparing candidates. Salm says two in five adults in the country are paying more attention to candidate positions on Bitcoin than in previous presidential elections, a dramatic swing in what voters now care about.

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In addition, the poll noted that inflation is a main concern of many Americans — 30% said that was the biggest issue. Salm’s theory could explain the growing interest in crypto-friendly candidates that bitcoin and other cryptocurrencies may hedge against inflation.

Crypto at the Forefront of Presidential Election

Cryptocurrency policy is expected to play a pivotal role in the upcoming U.S. presidential election. The race features Republican nominee Donald Trump, who has expressed his desire to make the U.S. “the crypto capital of the world,” and Democrat Kamala Harris, who has been relatively quiet on the industry.

However, recent reports suggest Harris supports cryptocurrency more than President Joe Biden. Trump’s pro-crypto stance has resonated with some voters, especially those concerned about inflation and the economy.

Election betting platforms, such as Kalshi and Polymarket, currently favor Trump to win, with Kalshi giving him a 57% chance and Polymarket predicting his odds at 61%. In contrast, Harris is trailing, with a 43% chance on Kalshi and less than 38% on Polymarket.

While Harris has been quieter on the crypto issue, her campaign recently emphasized blockchain technology as a key area for U.S. dominance.

Starting in September, she listed blockchain among the emerging sectors in which the U.S. must remain competitive. This shift suggests a potential increase in her focus on cryptocurrency as the election approaches.

Crypto’s Nonpartisan Appeal Grows Among Voters

Grayscale and The Harris Poll conducted a survey noting that cryptocurrency support is not a party line. Candidates who support crypto-friendly policies are gaining interest from voters from both parties. Salm said,

“We identified that crypto rhetoric is generally nonpartisan, and voters on both sides of the political aisle place digital assets high on their priority list when making a decision.”

The cryptocurrency’s growing appeal in nonpartisan terms is represented in the increasing number of voters keen on seeing it as a critical issue.

The more Americans become aware of crypto’s use as a store of value and a hedge against economic instability, the more influence pro-crypto candidates will have. Results from the survey indicate that candidates who openly supported cryptocurrency could receive a competitive advantage in future elections.