The upcoming US elections will have a huge impact on financial markets going forward. The tug-of-war between economic policies and the outlook of the markets has been a key topic for debate for both the Biden administration and the Trump hopefuls. However, a key aspect of this year\u2019s elections is the support of crypto voters. Amid the dilemma of who to vote for, the crypto community seems to be in a tussle of choice.<\/p>\n
Anthony Scaramucci urges crypto voters to choose Biden administration<\/h2>\n
According to a report<\/a> by Bloomberg, Anthony Scaramucci has asked the crypto community to vote for Joe Biden in hopes of a second term.\u00a0 The founder of SkyBridge is currently rooting for a Biden 2.0 despite the administration\u2019s severe stance toward the cryptocurrency business. Scaramucci, who has been a former director of communications for President Trump stated that although a Trump administration would be better for cryptocurrency regulation in the near run, \u201che\u2019s going to create havoc and unpredictability in the legal system in the long run.\u201d<\/p>\n <\/p>\n Donald Trump\u2019s election campaign has been based on better economic policies time and again. However, masking behind the promises of a bull run in the financial sector is the fact that Trump might have flipped the narrative of being a crypto supporter.<\/p>\n According to a research<\/a> by Politico, in a 2019 tweet, President Trump mocked bitcoin and other digital currencies, saying they were \u201cbased on thin air.\u201d However, in order to capitalize on broader worries about government overreach, a number of Republican officials have warmed up to and even courted the crypto believers in the years that have passed.<\/p>\n <\/p>\n Just recently, during a campaign event in New Hampshire, former President Donald Trump declared that he would \u201cnever allow the creation of a central bank digital currency\u201d. While one might take the remark as a sign of Trump being in support of decentralized currency, it overplays the very same principal of legitimization of crypto assets in mainstream.<\/p>\n <\/p>\n The 2024 elections will have up to 1.9 million votes being decided by crypto supporters. This would be sufficient to swing the election and probably tip the elections. In such a scenario, jumping the crypto bandwagon seems obvious for election candidates.<\/p>\n Crypto voters will have a huge role to play this time in elections. According to Forbes<\/a>, 1 in 5 Americans today own digital assets. That\u2019s 52 million people. Perhaps most striking is the political composition of this demographic. Forbes further mentioned that according to survey data from Coinbase and Morning Consult, 22% of respondent crypto holders identified as Democrats, 18% as Republicans, and 22% as Independents.<\/p>\n <\/p>\n CoinGape previously reported that there has been a noticeable<\/a> shift in American voters\u2019 interests. According to a Harris Poll study, seventy-three percent of participants think that prospective US presidents should be knowledgeable about cutting-edge technology like\u00a0 crypto and artificial intelligence.<\/p>\n In such a scenario, the race towards forming a government in The US will likely have to be with consideration of the digital asset community.<\/p>\n <\/p>\nIs Trump a crypto savior?<\/h2>\n
Republican or Democrats: which way will crypto voter lean?<\/h2>\n
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