2024 Election: The Rise of Bitcoin and Young Voters
Grayscale, a major crypto investment firm, highlights the potential impact of younger voting demographics on the 2024 presidential election.
During an American presidential election cycle, Bitcoin (BTC) is currently trading at its highest level, which could make it a significant factor in the upcoming “Bitcoin election.”
Millennials and Generation Z voters are likely to play a crucial role in determining the election’s outcome. This demographic is increasingly concerned about their financial future and has shown a distrust of institutions. Reports suggest that by 2024, young people will comprise 44% of American voters, making them the largest proportion in history.
The involvement of prominent politicians like Donald Trump, Ron DeSantis, Joe Biden, and Robert Kennedy Jr. in voicing their stance on Bitcoin and digital assets adds further relevance to the crypto industry in politics.
Grayscale believes that the winning president’s position on Bitcoin and digital assets is crucial, as they will be responsible for appointing the heads of regulatory agencies like the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
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More than 50 independent federal commissions under the president’s control can influence various aspects of the crypto market, including the SEC, CFTC, Federal Reserve, and Treasury.
In summary, Grayscale points out the growing significance of Bitcoin in American elections, with younger generations potentially shaping the outcome based on their financial concerns and voting power. The president’s views on cryptocurrency could have significant implications for the crypto industry’s regulatory landscape.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
