US Elections: Biden Initiates Outreach Plans To Woo Crypto Backers

Juhi Mirza
Biden Administration Asks Congress for Clearer Crypto Regulation
Source: The White House

After Donald Trump’s ambitious Bitcoin plans, US President Joe Biden is now inching towards the crypto sector to woo the vertical. Recent reports unveil a new strategy change in the US elections, where Biden is now connecting with key crypto players intending to establish contact.

Also Read: “Will Keep Elizabeth Warren Away From Bitcoin,” Trump Vows In A New Video

Biden And Crypto

us president joe biden white house
Source: Getty Images

Joe Biden, the current US president, has always been portrayed as someone who is not very fond of crypto. His recent decision to veto a pro-crypto bill had triggered a fierce reaction within the crypto community. However, it seems that Biden is changing his election strategy and is now working towards winning the community’s confidence for good.

Reports by the Block revealed that President Joe Biden is now reaching out to key figures in the cryptocurrency arena to possibly seek guidance on strategizing the future outlook of the cryptocurrency industry.

The sudden sentiment shift in Biden’s strategy appeared soon after Donald Trump’s pro-Bitcoin comments. While attending a conference, Trump vowed to make the US the center of cryptocurrency activity, The idea was holistically embraced by the crypto community.

The softening stance of the Biden administration on crypto is signaling a potential bullish change for the sector. The election proponents dub the said move a keen strategy that aims to win the favor of the flourishing crypto community.

US Elections or the Bitcoin Election?

Bitcoin seems to be a pivotal part of this year’s US election, per a recent survey conducted by Grayscale. The survey revealed key findings about the current US electoral campaigns, stating that overall user sentiment is deeply inclined towards the cryptocurrency sector.

Also Read: Donald Trump Holds $10 Million Worth of Cryptocurrencies, Says Arkham

32% of the survey stats revealed that US voters are keen to learn more about the cryptocurrency vertical. At the same time, around 47% of the voters shared that they would like to explore Bitcoin as an investment alternative by diversifying their portfolio.

“We believe Bitcoin’s relevance is increasing due to macro dynamics and its own maturity. And nearly half of voters (47%) now expect some of their investment portfolio to include crypto. (Up from 40% just late last year). As in Phase 1 of polling this year, respondents ranked inflation as the top issue in the election (28%). Again underscoring the potential value of assets like Bitcoin with a transparent. And hard-capped supply. The speculation and headlines have begun: Can November be “the Bitcoin Election?” The survey shared.