US citizens want a president who knows about cryptocurrencies, survey shows

Bitcoin UK
  • The concern of the participants revolves around the economic problems of the nation
  • This reinforces Bitcoin ‘s role as a store of value for residents
  • The next president for the USA will be elected in 2024

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It seems that cryptocurrencies are already a matter of interest to a large part of American residents, which is why they consider it necessary that the next president of the North American nation be a person who has knowledge on the subject.

This was one of the conclusions presented in a survey conducted by The Harris Poll at the request of Grayscale , which seeks to understand some perspectives of voters regarding the next presidential elections that will take place in 2024, especially in light of the growing rise of cryptocurrencies within the local market.

The survey in question was carried out at the end of November of this year, and included the participation of 1,759 adults who stated that they will vote in the next elections.

A president who knows about cryptocurrencies

One of the most notable data about the study had to do with the topics that the next American president should master, considering that he should be well documented on technologies such as artificial intelligence and cryptocurrencies.

This approach was supported by 73% of the participants, who consider it important that the candidates know about these issues, since they will be more closely linked to the future of the local economy.

Along with this, participants also expressed concerns about “financial stability and inflation” for the US. According to the survey, people are concerned about the direction of the local economy, which highlights the importance of Bitcoin ahead of the next elections:

“According to respondents, the most pressing problem in the United States today is inflation by a wide margin, as shown in the graph below. “This finding is directly relevant to cryptocurrencies and, in particular, Bitcoin, which has traditionally been correlated with monetary debasement,” reads the report of the results .

In this sense, researchers agree that the increasingly limited supply of Bitcoin makes the digital currency function as a safe haven asset similar to gold. They also found that “the more familiar respondents were with cryptocurrencies, the more likely they were to be interested in Bitcoin due to inflation or other macro events,” which indicates two things:

One, that those familiar with Bitcoin view it as a macro asset and, two, that additional education may be necessary to help a broader audience better understand nascent technologies, such as Bitcoin, so that there is greater widespread adoption.  

Bitcoin and US regulations

The survey results come in light of the regulatory chaos that the US poses for cryptocurrencies, which has caused the industry to face several problems in order to prosper locally.

At the moment, there are no laws applicable to the use and trade of cryptocurrencies in the country, which has given rise to the different financial regulators to act according to their criteria towards this type of assets. The most notable cases are those of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), which maintain a type of dispute to include such assets within their respective jurisdictions and address them in based on its regulations.

On the other hand, there are also certain legislative initiatives. The case of Senator Elizabeth Warren stands out especially, who has been a critical voice in this matter, urging the need to implement controls and restrictions on cryptocurrency operations. The legislator is based on the use of these assets to avoid paying taxes and financing terrorist acts, but various reports published by analysis firms support with data that such statements are an error.

Regarding the presidential race for the US, several of the candidates have shown some knowledge about Bitcoin and cryptocurrencies, so some have already been encouraged to make campaign promises aimed at guaranteeing free trade in said assets. . However, it remains to be seen whether this position will be maintained if any of these manage to occupy this position.