Crypto assets like the Bitcoin (BTC), altcoins like Ethereum (ETH) and stablecoins such as Tether (USDT) are riding the momentum brought about by some positive news involving these asset types over the last few days.
In what can be considered as a collective effort, cryptocurrencies initiated a bullish run that enabled the crypto market to push its overall valuation to more than $1 trillion.
Along this line, many of these virtual currencies will able to make significant price pumps to paint their charts in green.
Then, recently, American entrepreneur and and “Rich Dad, Poor Dad” author Robert Kiyosaki said Bitcoin, along with precious metals gold and silver, can be used to cushion the blow of an economic meltdown that might result from the U.S. Federal Reserve’s plans of another interest rate hikes.
Now, digital assets manager Grayscale Investments shared the result of a study it conducted that revealed more than half of American voters believe cryptocurrencies are the “future.”
Democrat Voters Trust Crypto Assets
The firm’s survey, which was conducted by The Harris Poll on its behalf, involved 2,039 respondents and was conducted from October 6 to October 11.
It found that 52% of the participating population were more than amenable with the statement “cryptocurrencies are the future of finance.”
The American market and research analytics company also noted that nearly 60% of those who voted on the affirmative side were Democrats. The remaining 41% were Republicans.
It was also found that 44% of the agreeing party are seriously considering adding these asset types into their investment portfolio.
Grayscale Investments commissioned the national survey to assess the current situation of the economy and the public’s perception of cryptocurrencies in relation to the upcoming U.S. election this year.
On Regulation Amid Growing Interest
A considerable size of the respondents (37%) made sure to take into consideration first the policy ideas of candidates with regard to digital currency before voting.
Meanwhile, 81% (88% Republicans and 71% Democrats) said they want crystal clear regulations and policies to be implemented towards the burgeoning market sector to ensure the safety of investments put into it and to deter illicit activities that revolve around digital currencies.
Four out of five participants (+80%) expressed their desire for consumer-first approach regulation. This means individuals (rather than the U.S. government) will bear the responsibility of determining the best way to invest in cryptocurrencies.
The development no longer comes as a surprise, considering the growing interest in crypto assets among Americans.
According to crypto payment gateway TripleA, around 46 million or 13.7% of the total population of the U.S. own cryptocurrency, with 81% of the adults in the country saying they have already heard about the digital asset class.
A high percentage (59%) of digital currency owners revealed their reason for owning the asset was for payments purposes.
BTC market cap at $393 on the daily chart | Featured image from Forex Academy, Chart: TradingView.com