Nfts
Crypto NFT Today: Week 4 of January
Welcome to another edition of Crypto NFT Today! The last two weeks have been full of unmissable events that will determine the future of blockchain, cryptocurrency and NFTs.
In this week’s edition of Crypto NFT Today, we will focus on the role digital assets will play in the 2024 presidential election.
Cryptocurrency in the political landscape
A central point is emerging in American politics that crosses party lines and has the potential to mobilize millions of voters: cryptocurrency.
Unlike in 2020, cryptocurrency holders unite into a cohesive voting bloc in 2024. This bloc, comprising millions of voters in crucial swing states, exerts significant influence in determining election results.
Statistics on the importance of crypto among voters
The majority of the latest Bitcoin bull run occurred after 2020 presidential election, giving rise to a new class of millionaires and a significant community of crypto voters. Currently, one in five Americans own digital assets, or 52 million people. This demographic is notably politically diverse, with 22% identifying as Democrats, 18% as Republicans, and 22% as independents. Additionally, 60% are Generation Z or Millennials, and 41% are minorities.
A Checkered survey highlights that 46% of Black Americans and 44% of Hispanic Americans find cryptocurrencies more accessible than traditional finance. This trend, confirmed by data from the Fed and Pew Research Center, positions crypto as a top concern for Black and Hispanic voters, crucial demographics for the 2024 presidential election.
Swing states like New Hampshire, Nevada, Ohio, and Pennsylvania often determine election results. Morning Consult survey in these states reveals that approximately 18% of voters (3.4 million people) hold digital assets, and that 55% of them would be less likely to vote for candidates opposed to crypto values.
Positions of election candidates regarding cryptocurrency
Despite the evidence political advantages By endorsing Bitcoin and crypto, Joe Biden and Donald Trump have largely avoided the issue. Biden’s policies and regulatory measures have at times alienated the crypto community. On the other hand, Trump, while expressing skepticism in the past, has shown some signs of softening his stance, as seen in his commitment to NFTs and reports of cryptocurrency ownership.
By championing the values of Bitcoin and decentralization, Trump could potentially attract pro-crypto Democrats and independents who might otherwise have voted for Biden. This could be a strategic move to win back swing states where crypto is of considerable importance.
The Democrats saw Robert F. Kennedy Jr.. Commit to defending the rights of all Americans to use, maintain, and mine Bitcoin, avoiding unwarranted government scrutiny. On another side, Elizabeth Warrenwhile pledging to build an “anti-crypto army,” recognizes the importance of crypto as a force to be reckoned with.
The disproportionate attention paid by the press to Bitcoin and cryptocurrencies is another factor that pushes politicians to take clear positions on cryptocurrency policy, as it significantly improves their public image. Examples include Senator JD Vance winning his 2022 term by positioning himself as a pro-Bitcoin candidate and the 2022 New York governor’s race featuring questions about Bitcoin during public debates, an unprecedented topic globally. previous elections.