The results of a poll of American voters conducted by the prominent alliance of crypto industry leaders known as the Crypto Council for Innovation were released on Wednesday, highlighting the significant role that the sector and its participants are expected to play in the closely contested midterm elections in November.
A nonpartisan team led by Pioneer Polling and the Tarrance Group conducted the poll, which was done between October 8 and October 10, and it contained responses from about 1,200 potential voters.
The study discovered that 13% of 1,200 likely voters, or voters from each party, owned cryptocurrency. This is more than those who own mutual funds (12%), over three times as much as those who own bonds (5%), and only marginally less than those who own stocks (16%).
According to research by the Crypto Council, the majority of American voters believe that cryptocurrency has untapped potential. Former U.S. senator and head of political relations for the Crypto Council Cory Gardner said, “Our national survey shows voters believe in the promise of digital assets and see it as a long-term part of the economy and their financial future,” According to the report, recent global economic turbulence that has been shaking traditional financial institutions has increased faith in this possibility.
The research also suggests that those who have been historically shut out of the financial system may profit from cryptocurrency. African Americans and Hispanic Americans are each 18% more likely to own cryptocurrency, and many members of these important voting demographics are already looking to benefit from them. Independent voters are 17% more likely to hold cryptocurrency than young voters, and both categories are frequently under-targeted in elections.
More than 50% of the Latino and African American respondents who were surveyed stated that they had a more favorable view of crypto and credit unions than banks, and some respondents from these groups have claimed to have more faith in cryptocurrencies than traditional financial institutions.
