Cryptos, the Key to a Fairer System: Young American Voters Believe in it!

Young pro-crypto voters could very well disrupt the balance of political forces as the 2024 US presidential elections approach. Indeed, Generation Z and Millennials now make up 40% of the American electorate. Their growing adoption of crypto does not go unnoticed. Coinbase, one of the most influential crypto exchange platforms, highlights the potential of these young voters to become a decisive block at the polls. Their dissatisfaction with the traditional financial system and their attraction to digital innovation suggest that pro-crypto policies could become a key issue in this election.

A widespread dissatisfaction with the traditional financial system

In a recent report, Coinbase highlights a worrying trend for traditional financial institutions. Only 9% of young Americans say they are satisfied with the current financial system. This number drops to 7% for those under 40 years old. The reasons for this dissatisfaction are multiple. According to Coinbase, young people criticize banks for high fees, hidden costs, and general inefficiency that does not meet their expectations of a modern financial system. “Young Americans want more transparency and innovation, and they think that crypto can offer these advantages,” said a Coinbase spokesperson. For these voters, crypto represents not only an investment opportunity but also a credible alternative to a system they consider outdated.

This feeling of frustration with traditional financial institutions continues to grow. Coinbase data indicates that 38% of young voters consider crypto and blockchain as potential tools to increase economic opportunities, especially in regions where traditional financial institutions have failed to meet the needs of local populations. Such a movement thus highlights the desire for change and innovation that transcends traditional political divides.

A decisive electoral force in swing states

Young pro-crypto voters could play a crucial role in key states during these elections. Coinbase points out that states like Arizona, Georgia, and Michigan could see their fate changed due to the mobilization of this demographic group. In Georgia, for example, youth voter turnout jumped by 14 percentage points between 2016 and 2020, reaching 51% of those under 30 in the last presidential elections. Moreover, the number of “Stand with Crypto” movement supporters in Georgia now far exceeds the state’s victory margin in 2020.

The importance of crypto in political discussions transcends traditional partisan boundaries. According to a survey conducted in May 2024, more than 20% of voters in swing states consider crypto a major issue in the upcoming elections. Among Generation Z participants who own digital assets, 90% believe the financial system needs reforms, and 61% are ready to support candidates favorable to the crypto industry. This trend could force candidates from both parties to adjust their platforms to include pro-crypto policies to attract this electorate.

Convinced that Bitcoin could be the key to a more just financial system, these young pro-crypto voters could be the decisive factor in the race for the White House.