Coinbase said crypto voters will play a significant role in the upcoming US presidential election and have the potential to impact key battleground states.
The exchange pointed to several surveys and studies conducted on its behalf to gauge the extent of crypto adoption among American voters. It added that surveys have revealed that crypto is a decidedly bipartisan issue.
Crypto voters
In a series of tweets on July 11, Coinbase highlighted that one in six crypto owners live in seven crucial states. These voters are younger, more diverse, and highly enthusiastic about participating in the election.
According to the exchange, these individuals are driven by a desire to update the system and build wealth for themselves, displaying a bipartisan approach to their political affiliations. Coinbase said:
“Crypto voters are going to make a big difference in November’s key races. They’re more bipartisan than you think and are enthusiastic to vote, which will have a significant impact on the 2024 election.”
Surveys revealed that Gen Z and Millennials comprise 65% of registered voters who own crypto. Additionally, 40% of these voters reside in swing states, with 35% of non-white voters among the crypto-owning demographic, making them a diverse and politically active group.
Meanwhile, studies indicate that nine out of 10 registered voters who own crypto are likely to vote in the November election. Furthermore, these voters are 4x more enthusiastic about supporting a pro-crypto candidate.
Bipartisan issue
The research also emphasized the bipartisan nature of crypto voters — 35% identified as Democrats, 34% as Republicans, and 31% as persuadable regarding their party affiliation. This trend is consistent among crypto voters in swing states, where their influence could sway the election outcome.
Notably, some crypto enthusiasts have formed nonpartisan organizations, such as Stand With Crypto and the Bitcoin Voter Project, aiming to mobilize crypto voters and influence election results.
Candidates have begun to recognize the growing momentum of the crypto vote, with some researchers suggesting that this could impact voter turnout and election outcomes.
Among the candidates, former President Donald Trump and Democratic nominee Robert F. Kennedy Jr. have shown interest in the crypto community.
Trump has voiced strong support for the industry — a stance mirrored by the Republican party recently — and is slated to headline the upcoming 2024 Bitcoin Conference.
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