Grayscale: Millennial and Gen Z voters could determine the outcome of the 2024 "Bitcoin Election" year.
2023-08-06 15:05
Odaily News: Grayscale has released a report stating that the outcome of the "Bitcoin election" may be ultimately determined by millennials and Generation Z voters, as they are becoming increasingly concerned about their financial situation. It is reported that Cathie Wood and Balaji Srinivasan have referred to 2024 as the "Bitcoin election".
The Grayscale team studied how these trends relate to the upcoming 2024 US presidential election. Firstly, Bitcoin is currently at its highest price during a US presidential election cycle; the current trading price of Bitcoin exceeds $29,000, while the previous peak during the fourth quarter of 2020 election cycle was around $20,000.
Secondly, it can be said that equally important is the group of people who distrust institutions, especially those who are concerned about their future financial situation. They may be the most crucial voting group before 2024.
In the 2024 US presidential election, it is expected that young people will be the largest proportion of voters in history. Early reports indicate that by 2024, millennials and Generation Z will account for 44% of US voters.
Grayscale points out that as prominent politicians such as Donald Trump, Ron DeSantis, Joe Biden, and Robert Kennedy Jr. begin to express their stance on Bitcoin and the broader digital asset industry, Bitcoin may become increasingly important in politics. "These facts and the ongoing maturity of the Bitcoin ecosystem seem to suggest that Bitcoin is now and will be more relevant to US elections than ever before. In fact, early political candidates have already begun to share a broader stance on Bitcoin and cryptocurrencies."
Grayscale also states that the stance of the elected president on Bitcoin and digital assets is crucial, as they will be responsible for appointing the heads of regulatory agencies such as the US SEC and CFTC. "The views of US presidential candidates on Bitcoin and cryptocurrencies are important not only because the president leads the country but also because the president is responsible for appointing the heads of over 50 independent federal commissions that can influence various aspects of cryptocurrencies, including the US SEC, CFTC, Federal Reserve, and Treasury Department." (The Daily Hodl)
The Grayscale team studied how these trends relate to the upcoming 2024 US presidential election. Firstly, Bitcoin is currently at its highest price during a US presidential election cycle; the current trading price of Bitcoin exceeds $29,000, while the previous peak during the fourth quarter of 2020 election cycle was around $20,000.
Secondly, it can be said that equally important is the group of people who distrust institutions, especially those who are concerned about their future financial situation. They may be the most crucial voting group before 2024.
In the 2024 US presidential election, it is expected that young people will be the largest proportion of voters in history. Early reports indicate that by 2024, millennials and Generation Z will account for 44% of US voters.
Grayscale points out that as prominent politicians such as Donald Trump, Ron DeSantis, Joe Biden, and Robert Kennedy Jr. begin to express their stance on Bitcoin and the broader digital asset industry, Bitcoin may become increasingly important in politics. "These facts and the ongoing maturity of the Bitcoin ecosystem seem to suggest that Bitcoin is now and will be more relevant to US elections than ever before. In fact, early political candidates have already begun to share a broader stance on Bitcoin and cryptocurrencies."
Grayscale also states that the stance of the elected president on Bitcoin and digital assets is crucial, as they will be responsible for appointing the heads of regulatory agencies such as the US SEC and CFTC. "The views of US presidential candidates on Bitcoin and cryptocurrencies are important not only because the president leads the country but also because the president is responsible for appointing the heads of over 50 independent federal commissions that can influence various aspects of cryptocurrencies, including the US SEC, CFTC, Federal Reserve, and Treasury Department." (The Daily Hodl)
Recommended Articles
