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Most US Voters Disapprove the Idea of a Crypto Reserve

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by Giorgi Kostiuk

5 hours ago


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.

Only 10% of voters believe the U.S. should increase federal funding for cryptocurrency and blockchain development.None

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.

No strategic need has arisen that would necessitate investment in the volatile and speculative cryptocurrency market.Gerry Connolly

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.

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