According to a national survey, Democrats and Republicans believe that cryptocurrency is the future of finance. The survey was conducted by The Harris Poll, a global market research and consulting firm. The Harris Poll conducted the valuation on behalf of Grayscale Investments, the world’s largest digital currency asset manager. Moreover, almost 44% of the repodents expect crypto to be part of their future investment portfolio.

The Future of Finance is Crypto

The announcement was made on Tuesday by Greyscale Investment that their survey revealed that “Democrats and Republicans agree cryptocurrency is the future of finance.” The survey was conducted online between Oct. 6-11 to examine how Americans view the state of the economy and cryptocurrency against the backdrop of the 2022 United States election. The voters who participated were a total no. of 2,029 adults.

Highlights from the Grayscale/Harris Poll include:

●   Almost half of US citizens are familiar with cryptocurrency (49%), and familiarity rises among younger investors, including 70% of those aged 18-34 and 62% of those aged 35-44. 

●   A  quarter of Americans (25%) say inflation and the current economic climate have made them more interested in cryptocurrency. 

●   Interest in cryptocurrency seems to translate to adoption, particularly among young and diverse investors. About one-third of Black (34%) and Hispanic (32%) Americans, as well as those under 45 years old (37%), say inflation and the current economic climate have made them more interested in cryptocurrency. Nearly one-third of Black (30%) and Hispanic (32%) Americans, as well as those under 45 years old (33%), already own cryptocurrency.

●   Among those who have invested in cryptocurrency, only one quarter (25%) invested due to a recommendation from a financial advisor compared to 41% who read, saw, or heard something that piqued their curiosity, and 37% who received a recommendation from a friend or family member.

Clear and Accessible Regulation has Bipartisan Support 

With the high-stakes midterm election now a week away, the survey took a look at the views of registered voters, of which 89% plan to cast a ballot. Among registered voters:

●   Nearly two in five (39%) see the U.S. as behind other countries in creating a regulatory environment that makes it easy or safe for anyone to buy or trade cryptocurrency.

●   Over a third (37%) are considering candidates’ policy positions on cryptocurrency before casting their vote.

●   81% agree there should be clearer cryptocurrency industry regulation, including 88% of Democrats and 77% of Republicans.

●   More than four in five of both Republicans (81%) and Democrats (82%) feel it is important to take a consumer-first approach to regulation – allowing consumers (not the government) to decide how to invest in cryptocurrencies by providing necessary information about various products while creating a regulatory framework that ensures anyone can access cryptocurrency (80% among both Republicans and Democrats).