Crypto has become a significant topic this election season, with a recent report indicating that young crypto voters could heavily influence the 2024 U.S. elections, particularly in battleground states.

According to a report, Gen Z and Millennials—who now make up 40% of all eligible voters—are increasingly dissatisfied with the current financial system. This frustration could drive them to vote based on financial reform and cryptocurrency policies. The report also notes that this demographic leads in crypto adoption, with 25% of those aged 18-34 owning crypto, compared to just 14% of older Americans.

Young voters who support crypto are preparing to make their voices heard at the polls. Politicians seeking their support must address the demand for a future that includes digital currencies and blockchain technology.

Voter Turnout

The influence of younger voters is already evident. In 2020, voter turnout among those under 30 significantly increased, notably in key battleground states like Georgia and Arizona. These voters are more inclined to support candidates with pro-crypto policies. In fact, 51% of young voters indicated they would back such candidates in 2024.

Almost four in ten (38%) see crypto as the future of finance. More than half (51%) are likely to support crypto-friendly candidates in 2024. Young voters can tip the scales for either party, especially in battleground states where a few votes can determine the outcome.

Crypto has become a bipartisan issue, with young cryptocurrency owners in swing states evenly split in their political affiliations. In these states, approximately 41% of voters under 35 who hold cryptocurrency identify as Democrat, while 39% identify as Republican.

Political Crypto Pandering

Both political parties have embraced pro-crypto sentiment this election season to attract crypto voters. Republican nominee Donald Trump has expressed a pro-crypto stance during his current campaign, despite his previous skepticism about Bitcoin, which he called “highly volatile” in 2019. Now, Trump has announced his support for cryptocurrency.

The Trump campaign has also launched a fundraising page that accepts donations in various cryptocurrencies available on major platforms. On the opposite side, a pro-Harris advocacy group called “Crypto for Harris” has launched a campaign to garner support from the crypto community. This effort aims to improve Harris’s standing with digital asset supporters and counter Republican efforts to attract the same voter base.

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