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A recent report highlights Bitcoin’s role in the 2024 U.S. election. The report suggests Millennials and Gen Z will make up 44% of voters.
Crypto firm Grayscale released the report on Thursday. It shows Bitcoin’s rise is aligned with this demographic’s distrust of institutions.
Grayscale claims this group may be the most critical voter demographic in 2024. It notes young voters’ focus is shifting to money over traditional values.
Patriotism, religion, and family are being replaced by financial concerns. Unprecedented income inequality is fueling this shift.
Balaji Srinivasan, former Coinbase CTO, says 2024 could be the first “Bitcoin election”. Ark Invest’s Cathie Wood supports this view.
The report lists the presidential candidates’ views on Bitcoin. It also highlights the president’s influence over crypto-related institutions.
Candidates like Desantis, Ramaswamy, Suarez, and RFK Jr. have expressed Bitcoin support. Desantis opposes Bitcoin regulation. Ramaswamy sees Bitcoin as a decentralizing force.
Suarez plans to make Miami a Bitcoin hub. He accepts his salary in Bitcoin. RFK Jr. sees Bitcoin as a key innovation.
He accepts Bitcoin campaign donations. He also proposes to scrap capital gains tax on Bitcoin trading. The report states that incumbents Biden and Trump favor exploring CBDCs.
