- Cryptocurrencies are emerging as a pivotal issue in the lead-up to the 2024 US presidential election.
- A recent survey reveals that the majority of cryptocurrency users in the nation share this sentiment.
Crypto: A Significant Campaign Issue in the US
As outlined in Gemini’s report titled “2024 Global State of Crypto,” a growing number of US cryptocurrency holders are closely watching the platforms of presidential candidates ahead of the November elections. Notably, 73% of those surveyed stated that a candidate’s position on cryptocurrency will influence their voting decision, while 37% indicated that it would have a “substantial impact” on their choices.
Gemini’s findings signal a transformative shift in the US political arena. For the first time, “crypto has emerged as a prominent campaign issue in a presidential election.” This underscores the increasing impact of cryptocurrencies in American society.
Donald Trump Vs Kamala Harris
Currently, there are five candidates competing for the top elected office in the US, but the competition appears to be mainly between the Republican and Democratic parties.
Former President Donald Trump is leading the Republican charge against Democratic nominee and current Vice President Kamala Harris. The two have been closely competing in various polls.
As of the latest compilation from 538, Harris holds a narrow lead over Trump by a margin of 2.8%. The mock polls indicate that she has the support of 47.2% of respondents, while Trump has 44.4%.
Endorsements from the Crypto Community
Trump has garnered substantial support within the crypto community due to his advocacy for Bitcoin (BTC), other cryptocurrencies, and the decentralized finance (DeFi) sector. He has previously assured voters that he intends to transform the US into the “crypto capital of the world” and a “Bitcoin mining hub.”
The Republican frontrunner also expressed his intent to designate Bitcoin as a strategic national reserve and to create a pro-crypto environment. Additionally, he has hinted at appointing the “Dogefather” Elon Musk in his administration.
Conversely, Harris has remained relatively mute on crypto issues, suggesting a potential continuation of President Joe Biden’s administration’s critical position towards cryptocurrencies. Nonetheless, she has recently received endorsements from key figures in the crypto space, including Mark Cuban.
Notably, even Ripple co-founder Chris Larsen endorsed the VP, which is an unexpected twist given that the current administration has posed significant challenges to the company he co-founded.
Since 2020, Ripple has been in a legal struggle with the US Securities and Exchange Commission (SEC) over alleged violations of securities laws, resulting in a $125 million fine that the company is still contesting.
