A new poll from Data for Progress has shown that most American voters do not support the idea of a crypto strategic reserve.
Poll Results on Crypto Reserve Attitudes
According to the poll results, 51% of voters opposed the crypto reserve. Among Democrats and Independents, 59% and 56% respectively were against it. Among Republicans, 40% opposed it too. Only 10% believe that the US should increase federal funding for cryptocurrency.
Congressional Attitudes Towards the Crypto Reserve
Congress members have also shown skepticism about the crypto reserve. Democrats described the idea as a way for the president to enrich himself at the taxpayers' expense. Rep. Gerry Connolly noted that reserves are created for strategic commodities during economic crises.
Impact on the Crypto Industry
The announcement of the crypto reserve initially caused a spike in Bitcoin's value, but the price soon began to fall, raising concerns in the industry and demonstrating market instability.
The poll by Data for Progress revealed that the US is divided on the need for a crypto reserve. While there are concerns and debates in the industry, public opinion clearly shows citizens' reluctance to prioritize a crypto reserve for federal funding.
