As the 2024 election season commences in the United States, the crypto industry and broader community have mobilized to support perceived pro-crypto candidates. Dr. Tonya M. Evans, a tenured law professor at Pennsylvania State University, explained the impact of crypto on the upcoming elections in an interview with Cointelegraph.
Impact of Cryptocurrency on Elections
According to Dr. Evans, the upcoming presidential race will be decided by razor-thin margins, where many issues, including crypto, can potentially swing the vote. However, the law professor also noted, 'If you're a multi-issue voter who happens to also be pro-crypto, you're far less likely to be swayed by either candidate on this point alone.'
Candidates' Election Tactics
"Exploiting these razor-thin margins is strategic to US presidential candidates vying for battleground states. The race really isn't about winning over the general population, but about navigating the Electoral College game. That means that if there are small voter shifts in crucial states like Pennsylvania, Georgia, Arizona, etc., that could move the needle."
Importance of Crypto to Voters
To many voters, crypto is a 'top-of-mind issue, though not top-line.' A recent Benzinga poll found that 6% of respondents wanted to hear the 2024 US presidential candidates discuss crypto during a debate, while 45% wanted to hear about the economy and job creation, and 24% wanted the candidates to discuss immigration. Another poll conducted by crypto exchange Gemini found that 73% of adults polled in the United States said that a candidate's crypto policies would have 'some impact' on whether they voted for them.
Thus, support for cryptocurrency can be a significant factor in the upcoming elections, but it is unlikely to be the sole deciding element for voters.
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