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Highlights
- 13% of Dem voters are undecided or leaning Trump/third-party due to concerns over Biden's crypto stance.
- 43% of Dems deem U.S. leadership in tech, including crypto, "very important" or "extremely important."
- Trump promises a "strategic bitcoin stockpile" and vows to end the SEC's "unlawful crackdown" on crypto.
Ahead of the US election, a new poll has revealed anxiety among registered Democratic voters regarding the party’s position on digital assets in the role of Vice President Kamala Harris.
The poll was conducted from July 25 to August 1 of 804 individuals who identified as Democrats and showed a rising concern regarding the party’s handling of this burgeoning sector.
US Election Poll Reveals Democrats Crypto Concerns
According to the survey conducted by Paradigm in partnership with Mercury Analytics, 13% of Democratic voters remain uncommitted or may vote for Trump or another party candidate. This can be due to the anti-crypto stance that the Biden administration has been perceived to take.
Of the non-Harris voters, 21% think the administration has been “a little too hostile” or “much too hostile” to the crypto industry.
🚨NEW: A survey of registered Democrat voters conducted by @paradigm found that:
1. 13% said they were not voting for Harris as they are either voting for Trump, a third-party candidate, or are still undecided.
2. 21% of non-Harris voters say that the Biden Administration has…
— Eleanor Terrett (@EleanorTerrett) August 12, 2024
Moreover, 43% of respondents stated that the United States’ leadership in high-tech software, like cryptocurrency and fintech, is “very important” or “extremely important.” This view represents a wider trend among the Democratic electorate regarding the state of the United States in the world of technology.
Kamala Harris Crypto Stand
As of now, Vice President Kamala Harris who is now the presumptive Democratic nominee after Biden decided not to seek re-election, has not publicly taken a clear stance on cryptocurrencies. Nevertheless, the role of crypto in the eyes of the voters has been on the rise, which has not been overlooked. Moreover, Cardano CEO Charles Hoskinson recently attacked the Harris campaign citing a vote for her would be a move against the crypto industry.
Despite this, the Harris’s campaign has apparently been contacting the cryptocurrency community, which may be an indication that the party is changing its view. According to a Coingape report, the campaign launched the “Crypto4Harris” initiative, aimed at engaging with the crypto industry and addressing the concerns of pro-crypto voters.
Consequently, based on the poll findings, Harris may be able to regain some of the undecided Democratic voters. By taking a more positive stance on cryptocurrencies given that 18% of these non-Harris voters have invested in crypto.
Donald Trump Promises to the Community
In the Republican party, the former President Donald Trump has taken the pro-crypto stance and some part of the voters has responded positively to it. Trump vowed to put an end to what he called an “unlawful and un-American crackdown” on the US crypto industry. Moreover, speaking at the Bitcoin 2024 conference, he revealed his desire to establish a ‘strategic bitcoin reserve’ and his vision for the United States as a leader in the crypto world.
Trump’s position has been well-received in the crypto community, and his campaign has been able to mobilize this voter group. His promise to fire Gary Gensler who is the current chair of the SEC in the United States has also been applauded by the crypto enthusiasts because of the strict stance that Gensler has taken on regulation of the crypto space.
In addition, Republican presidential candidate Vivek Ramaswamy has called on Kamala Harris for a clear position on cryptocurrencies and Gary Gensler as head of the United States Securities and Exchange Commission (SEC). Ramaswamy has emphasized the need for transparency on these issues given that the crypto community will be influential in the US election.
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