Crypto Is Playing A Major Roll In Upcoming Midterms

October 15, 2022 12:46 pm Comments

Midterms are coming up and cryptocurrency voters could be why some lawmakers are in office and others are in the outside looking in.

Typically voters will only vote toward party lines but in recent years political scientists have noticed some voters have ventured outside of their political affiliation in order to vote for someone who is pro-crypto.

According to a recent survey by the GMI PAC, 44% of people going to the polls this November are considered “crypto voters’ which means they own or plan to own cryptocurrency.

Will cryptocurrency lead the charge to finally break a two-party system?

Only time will tell.

Block Work has more details to add:

As midterm elections approach, so-called “cryptocurrency voters” are becoming an increasingly desirable bloc, according to a political action committee that recently hit the scene.

GMI PAC, a crypto-focused group backed by SkyBridge’s Anthony Scaramucci, was formed in January 2022. “GMI” stands for popular crypto slang, “gonna make it.”

The PAC and its policy institute recently commissioned a poll of voters and their stance on cryptocurrency. The poll was conducted by Global Strategy Group and Fabrizio, Lee & Associates. The poll’s findings suggest that regular voters may be starting to care about crypto policy issues just in time for the midterms this year.

“Crypto voters,” which pollsters described as voters who own or are considering owning digital assets, make up 44% of voters across the US. A subset of 17% of voters already own crypto, according to the poll.

“This core of 17% who already own cryptocurrency is an extremely competitive group of voters that both Democrats and Republicans have been pitching in recent elections,” the poll conductors wrote in a report shared with Blockworks.

The core group is made up of mostly young men, with 58% of them being men under 55. A third of voters who own crypto are people of color, according to the poll. And — even better for candidates — they don’t appear to be overwhelmingly from one party or another, the poll found.

Cointelegraph got the scoop too:

A poll of 800 likely midterm voters in four U.S. swing states suggested that the overwhelming majority favored ideas around decentralization, and many were HODLers.

According to a Sept. 29 report from venture capital firm Haun Ventures on a survey conducted by business intelligence company Morning Consult, roughly one in five voters polled in New Hampshire, Nevada, Ohio and Pennsylvania said they owned cryptocurrency or nonfungible tokens. In addition, 91% of respondents supported a “community owned, community governed” internet that “gives people greater control over their information.”

“Significantly, and reflective of how the values that voters associate with Web3 will drive electoral behavior, voters are less likely to support candidates perceived as standing in the way of a decentralized internet,” said Haun Ventures. “In other words, as both parties consider how good Web3 policy will translate into good politics, the values of Web3 are what voters want to see elected officials supporting, not standing in the way of.”

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