Cryptocurrency is a buzzword in the investment world. His possession was also the center of discussion in the American mid-term elections. According to a survey, cryptocurrencies are becoming increasingly important in the economy. Now the question is, will crypto dominate the economy in the near future?
Despite the political divide in the United States, most Republicans and Democrats agree that cryptocurrencies will dominate the economy in the future. The importance of cryptocurrencies as an asset class in the United States is increasing. Both Republicans and Democrats agree. The survey found that more than half (53 percent) of Americans see crypto as the future, including 59 percent of Democrats and 51 percent of Republicans. But as investment in crypto grows, so does the need to regulate it.
Americans want the US government to issue clear rules for crypto. According to the survey, four in five Americans (79 percent) think cryptocurrency regulation is necessary. This includes support from Democrats (87 percent) and Republicans (76). Three-quarters of Americans (77 percent), including 83 percent of Democrats and 75 percent of Republicans, want the federal government to issue clear regulations for cryptocurrency trading. Not only is crypto important, but Republicans and Democrats agree on the need for regulation to ensure it becomes a safe investment option for American investors.
Crypto acceptance is high among young people, Americans also see crypto as a way to create a fairer economy. In the US, a third of voters aged 18 to 34 (37 percent) own crypto, compared to black Americans (31 percent), Hispanics (38 percent) and white Americans (16 percent). Importantly, a majority of older voters also think crypto will create a fairer economy with less reliance on banks and financial intermediaries.
Crypto is part of a diversified investment portfolio and a favorite of young Americans. Young Americans own crypto, survey finds Crypto is the most popular investment tool among Americans aged 18 to 34. Stocks, mutual funds, bonds are far behind.