Cryptocurrency Owners Could Significantly Influence Tight Mid-Term Races: Poll

Cryptocurrency Owners Could Significantly Influence Tight Mid-Term Races: Poll

  • Nearly half of potential voters in key states on the battlefield own or are considering investing in cryptocurrency, according to a new poll.
  • The poll, commissioned by the crypto-focused PAC, surveyed voters in Arizona, Georgia, Nevada, Pennsylvania and Wisconsin.
  • A third of the voters who own cryptocurrency are people of color, compared to one in four of the total voters.

A new survey has confirmed that people who own or want to buy cryptocurrency may influence converging races in key battlefield states.

Bobby Cable, a senior adviser to GMI PAC, who helped conduct a poll of thousands of potential voters in the general election, said crypto-friendly candidates in races that might be set with just a percentage point or two benefit significantly.

“If you look at those margins, being able to communicate with a crypto voter about crypto issues can open enough to support winning one of these tight races,” Cable said.

Nearly half of potential voters surveyed in September in Arizona, Georgia, Nevada, Pennsylvania and Wisconsin own or are considering investing in cryptocurrency. A subset of one in five cryptocurrencies already owns.

Among them, 45% of respondents said they would vote for or lean toward Democratic candidates, while 44% said they would vote for or lean toward Republicans.

“This center of 17% who already owns cryptocurrency is a very competitive group of voters that both Democrats and Republicans were promoting in the last election,” the pollsters wrote in a report shared with Insider. “[That] It’s a big number in races that are likely to be defined by small margins.”

Cable noted that in 2020, President Joe Biden defeated former President Donald Trump in Pennsylvania by 80,000 votes. In November, more than 800,000 Pennsylvanians who own cryptocurrency are expected to vote.

In general, it challenges views on partisan cryptocurrencies. Thirty-three percent of Democrats said they had a favorable view of cryptocurrency, compared to 30 percent of Republicans who said the same. On a similar note, separate Morning Consult I found that roughly equal shares of Democrats and Republicans say there are too many regulations for cryptocurrency.

About a third of voters who own cryptocurrency are people of color, compared to a quarter of all voters. Cable said that any politician who talks about cryptocurrency would have a chance to change the vote.

“You have both parties now in a battle to reach out to young black and Latino people in order to influence voter groups,” he said. “These two groups own cryptocurrencies at a much higher rate, so communicating with them about crypto issues could be the key to unlocking support and winning these tight races.”

separately Pew Research Center Surveyone in five Americans of black, Hispanic or Asian descent said they have invested in, traded or used cryptocurrency, compared to less than one in seven of whites who said the same.

Meanwhile, more than half of voters surveyed said Congress should update existing laws to fit new technologies such as cryptocurrencies and other digital assets to ensure businesses stay here and jobs in the United States.

“What we see from these numbers is that the crypto voter has an opportunity to reshape the American electorate and how people vote,” Cable told Insider.

The survey was commissioned by the GMI Policy Institute and GMI PAC, an advocacy organization focused on issues related to cryptocurrency, and was conducted jointly by the Global Strategy Group and Fabrizio, Lee & Associates.

The name of the crypto-focused PAC, which was Launched in Januaryis a reference to the popular coded slang “GMI” or “gonna make it”.

separately Pew Research Center Surveyone in five Americans of black, Hispanic or Asian descent said they have invested in, traded or used cryptocurrency, compared to less than one in seven of whites who said the same.

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