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Blockchain Adoption Rises : 19 % Of Voters Use Cryptos

Thu 19 Dec 2024 ▪ 5 min read ▪ by Luc Jose A.
Getting informed Event

The use of cryptos has gone beyond the stage of curiosity reserved for a tech-savvy elite. A recent survey from Emerson College reveals that nearly 19 % of American voters have already invested in, traded, or conducted transactions with cryptocurrencies. This figure illustrates a growing adoption of these technologies, representing a significant change in financial behaviors. More than just an isolated phenomenon, it reflects a profound transformation in mindsets, where cryptos are gradually integrating into the daily lives of millions of people.

A central Bitcoin surrounded by crypto icons and geometric shapes symbolically representing voters, with the number '1/5' highlighted.

A crypto adoption marked by youth and diversity

On December 17, 2024, Emerson College published the results of a study revealing fascinating data on the demographic dynamics of crypto users in the United States. This survey, conducted with 1,000 voters, indicates that about 40 % of crypto users have already made purchases in digital currencies like bitcoin, for instance, a statistic that illustrates the practical use of these assets beyond speculation. “Crypto users are younger and from minority backgrounds, making them a new dynamic and diverse voter base,” clarifies Spencer Kimball, Executive Director of Emerson College Polling.

This data indicates a strong adoption among younger generations. Those under 40 represent the majority of users, with nearly one third having already used a crypto. However, this adoption decreases with age: 28 % of those in their 40s report using cryptos, compared to 17 % of those in their 50s and barely 4 % of those in their 70s. The disparities do not stop there. Men are twice as likely as women to turn to these technologies, with 26 % compared to 13 %. Furthermore, Asian, Hispanic, and African American communities make up a third of users, which sharply contrasts with the 14 % of white users. These results show that the expansion of cryptos primarily affects groups that are often underrepresented in technological innovations, thereby reinforcing their role in economic and political diversification.

The emergence of a crypto political power : what implications ?

The figures revealed by the study go beyond simple demographic analysis and reveal a growing political influence of crypto users. Among these followers, 57 % express a favorable opinion of Donald Trump, support that can be explained by his pro-crypto positions during his campaign. These efforts include the appointment of crypto-friendly figures to strategic positions, notably within the Securities and Exchange Commission (SEC), thus consolidating the image of a government in tune with the aspirations of the sector.

Such a phenomenon goes beyond a partisan base. A study conducted in October by the Digital Chamber confirms the emergence of a true “crypto electoral bloc.” About 26 million American voters identify pro-crypto policies as a decisive factor in their choice of candidate. This trend is accompanied by a broader political dynamic. The recent election of hundreds of pro-crypto representatives to Congress paves the way for legislative reforms likely to promote innovation and development of blockchain technologies. Some industry leaders even believe that the United States could soon become one of the most crypto-friendly countries, with major implications for the digital economy and the international regulation of cryptos.

Cryptos, now at the heart of the digital economy, influence both financial behaviors and political priorities. Thus, their rise surpasses the framework of their direct users and redefines electoral and legislative stakes. However, with the emergence of an electorate sensitive to pro-crypto policies, decision-makers will need to rethink their strategies to meet the expectations of this new dynamic. This evolution raises questions about the balance between technological innovation, regulation, and inclusion, all aspects that could transform political debates in the coming years.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.