More than half of US voters are more likely to vote for a candidate who supports cryptocurrencies over one who does not, Craig Salm, Grayscale's legal director, declared on October 16.
Grayscale partnered with The Harris Poll, a market research firm, to survey US voters on their attitudes towards cryptocurrencies, Salm said in an interview with Janet Alvarez on Serious XM Business Radio.
The survey also found that two in five Americans "say they pay more attention to a candidate's views on Bitcoin as a cryptocurrency asset than in previous elections," according to Salm.
"[I]t's clear that this survey shows that Americans care whether candidates support cryptocurrencies or not," he said.
Source: Galaxy Research
The November US presidential election pits Republican candidate Donald Trump, who has said he wants to make America the "cryptocurrency capital of the world," against Democratic candidate Kamala Harris, who has been more silent on the industry.
US Vice President Kamala Harris appears more crypto-friendly than her boss, President Joe Biden, but does not support the industry as much as her opponent and former President Trump, according to information from Galaxy Research on October 14.
As of October 17, Kalshi, an election betting market, staking that Trump has a 57% chance of winning, while his opponent Harris has only 43%.
Bettors on Polymarket, a decentralized prediction market on the Polygon network, are even more optimistic about Trump, giving him a 61% chance compared to under 38% for Harris.
Inflation continues to impact voters
According to Salm, 30% of those surveyed said inflation is the most pressing issue facing America. This is where assets like Bitcoin (BTC) can be useful.
"[T]he fact that Bitcoin, Ethereum and other cryptoassets can serve as a hedge against inflation and a store of value. It's no surprise that more and more Americans are paying attention to candidates' views on cryptocurrencies," Salm said.
Starting in September, Harris began ramping up her cryptocurrency strategy, listing blockchain technology among the many emerging fields she wants America to "maintain dominance" in.
"We also found that cryptocurrencies are crossing party lines. People like to say that cryptocurrencies are bipartisan, but we like to say that they are non-partisan," Salm said.
Grayscale is the world's largest cryptocurrency asset manager, with over $20 billion in assets under management as of October, according to Grayscale.
