Is Bitcoin and Crypto Losing Importance for Donald Trump and Kamala Harris? What’s Next for 93 Million Crypto Users in America?
Anjali Belgaumkar12 Sept 20242 min read
The debate between Donald Trump and Vice President Kamala Harris may have been calmer than the explosive showdown with Joe Biden, but it wasn’t without its moments. Harris even shook hands with Trump, despite the heated discussions on abortion rights, border issues, and international conflicts. Yet, amid all the back-and-forth, one glaring omission stood out: cryptocurrency.
The Rising Importance of Cryptocurrency in U.S. Politics and Public Sentiment
While crypto might seem less urgent compared to those issues, its growing adoption makes it crucial to address. With Trump’s recent show of support for the crypto world, there’s speculation about what’s next—especially with his promise to fire SEC Chair Gary Gensler. This bold statement has already won over many Ripple enthusiasts, but only time will tell if he follows through.
According to security.org, 40% of adults in the U.S. now own cryptocurrency, up from 30% in 2023, which could mean around 93 million people. Of those who own crypto, about 63% plan to buy more in the next year. The most popular choices are Bitcoin, Ethereum, Dogecoin, and Cardano. The number of women owning crypto has also increased, going from 18% last year to 29% at the start of 2024.
“As a gauge for how many Americans own crypto today, our estimates suggest as many as 93 million people may hold one or more cryptocurrencies,” the report stated.
Current cryptocurrency holders are eager to boost their investments, especially with hopes of an ETF approval by the SEC. Interestingly, even 21% of those who don’t currently own crypto expressed that such approval would increase their interest in purchasing digital assets.
Among non-owners, 63% believe that cryptocurrencies should have greater government oversight. A regulated Bitcoin ETF could help boost their confidence in investing. In contrast, only 36% of current crypto owners think there’s a need for more government regulation.
