Here’s how crypto voters will affect the trajectory of the US election

The upcoming US election scheduled for November could mark a significant turning point for the US crypto industry due to the candidates’ opposing views on digital assets.

Coinbase, the cryptocurrency exchange, believes that crypto voters will make a big difference in key election races, especially in the presidential contest.

The effect on battlefield states

According to a survey conducted by the crypto trading platform, 52 million Americans own cryptocurrencies, and one in six of them live in key battleground states.

Battleground states, also known as swing or purple states, can be won by the Democratic or Republican candidate in a state election with a swing vote. They have split support for Democratic and Republican presidential candidates, and some of them include Arizona, Florida, Michigan and Georgia.

Coinbase calculated crypto ownership in the US using the average number of adults who disclosed that they owned digital assets in the past four quarters through July 2023, according to an analysis by business intelligence firm Morning Consult, and applying it to the total number of adults. in the country

The exchange found that crypto voters are younger, more diverse and united in their pursuit of wealth and an updated system favorable to digital assets. GenZ and millennials make up 40% of registered voters in battleground states, and 65% of them own crypto. Additionally, non-white individuals make up 23% of registered voters in swing states, and 35% of them own crypto.

Cryptocurrency owners eager to vote

Also, crypto users in the United States are bipartisan. Of the 41% of registered voters in battleground states who are likely to vote for the Republican Party, 34% of them own crypto. On the other hand, 35% of people likely to vote for the Democratic Party in purple states own crypto.

Interestingly, nine out of ten crypto owners say they are likely to vote on November 5 during the presidential election and are four times more eager than eligible voters to pitch their tents behind pro-crypto candidates.

“They are excited to vote and will have a big impact on the races that decide the 2024 election,” Coinbase said.

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