As the 2024 election campaign kicks off in the U.S., the crypto industry and wider community are rallying to support candidates perceived as pro-crypto.
Dr. Tonya M. Evans, a tenured law professor at Pennsylvania State University, explains the impact of crypto on upcoming elections.
Crypto, a Potential Factor in Tight Elections
According to Dr. Evans, the upcoming presidential race, in particular, will be decided by very tight margins.
Moreover, many issues can potentially tip the scales, including crypto.
However, the law professor also noted, “If you’re a multi-stakes voter who’s also pro-crypto, you’re much less likely to be swayed by either candidate on that point alone.”
Exploiting these tight margins is strategic for U.S. presidential candidates vying for crucial states.
Indeed, Dr. Evans explains, “The race isn’t really about winning over the general population, it’s about navigating the Electoral College game. This means that small changes in voting in crucial states, such as Pennsylvania, Georgia, Arizona, etc., could make a big difference.”
The professor also expressed confidence that support for cryptocurrencies and digital assets is bipartisan and cuts across political factors.
It’s a view corroborated by the $14 million spent by pro-crypto political action committees supporting congressional candidates from both parties.
Crypto’s Place in the 2024 Elections
For many voters, crypto is a “major issue, but not a priority,” Dr. Evans said. She emphasized the topic’s importance to voters. She also noted its subordination to other election issues, such as reproductive health and macroeconomic policy.
A recent Benzinga poll found that 6% of respondents wanted to hear the candidates for the 2024 US presidency discuss crypto in a debate.
A further 45% wanted to hear about the economy and job creation, and 24% wanted the candidates to discuss immigration.
Another poll conducted by crypto exchange Gemini found that 73% of adults surveyed in the US said a candidate’s crypto policies would have “some impact” on their voting choice.
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