The Trump campaign is making a strategic move to capture the cryptocurrency vote, with Ohio Senator JD Vance emerging as a key figure in this effort.
What Happened: At 39, Vance’s prominence in Silicon Valley and his pro-crypto stance are seen as crucial assets in wooing an estimated 40 million American crypto owners.
A Pew Research Center study from April revealed that 17% of U.S. adults have invested in cryptocurrency, with the majority still holding their digital assets, according to a report by the NY Post.
This significant voter bloc could potentially sway the 2024 election outcome.
Brandon Green, organizer of the Bitcoin 2024 Conference, emphasized the importance of this demographic: “I think this is the group that decides the election. This is a no-brainer.”
The conference, which Trump is set to address, has been in frequent communication with his campaign.
Vance, the first candidate on a presidential ticket to own Bitcoin BTC/USD, lends credibility to Trump’s crypto platform.
His past advocacy for digital currencies and proposed legislation to integrate crypto with traditional financial institutions stand in stark contrast to the Biden administration’s cautious approach and increased regulatory efforts.
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Venture capitalist Shervin Pishevar predicts, “President Trump and Vice President Vance will be the first Crypto Administration,” suggesting potential reimagining of regulatory bodies like the FDA, FCC and SEC to foster innovation in the crypto space.
The Republican Party has also updated its platform to oppose what it calls the “Democrats’ Unlawful and unAmerican Crypto Crackdown.”
This shift marks a significant departure from Trump’s previous skepticism towards digital currencies.
Frank Chaparro, from crypto news site The Block, notes, “Crypto is a huge demographic and will very much impact how people vote in 2024. And that will help Trump.”
As the 2024 election approaches, the intersection of cryptocurrency policy and political strategy will likely be a hot topic at Benzinga’s Future of Digital Assets event on Nov. 19.
The conference is poised to explore how evolving crypto policies could shape both the financial landscape and the political arena in the coming years.
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