In the upcoming U.S. presidential election this November, Republican candidate Donald Trump, who boldly declared he wants to make America the "world capital of cryptocurrencies," will face off against Democrat Kamala Harris, who has been noticeably quieter on the subject.

Vice President Harris is more crypto-friendly than her boss, President Joe Biden, but she’s not as excited about the industry as her opponent, former President Trump. Yet, in today’s climate, supporting crypto might be more crucial than it appears at first glance. It turns out that over half of U.S. voters are more likely to back a candidate who’s pro-crypto than one who’s not, according to Craig Salm, Chief Legal Officer at Grayscale, in an interview with Janet Alvarez on Serious XM Business Radio.

Moreover, two in five Americans "say they are paying more attention to a candidate's stance on Bitcoin as a crypto asset compared to previous elections," Salm added.

Why are Americans rooting for Bitcoin?

30% of survey respondents said inflation is the single biggest issue in America. And this is exactly where assets like Bitcoin could come to the rescue.

Salm noted:

Considering that Bitcoin, Ethereum, and other crypto assets can act as hedges against inflation and a store of value, it's no surprise to us that Americans are paying closer attention to their candidates' views on crypto. We also found that cryptocurrency transcends party lines. People like to say it’s bipartisan, but we prefer to say it’s nonpartisan.

As of October 18, Kalshi, an election prediction market, is giving Trump a 57% chance of winning, compared to 43% for Harris.

Traders on Polymarket, a decentralized prediction market on the Polygon network, are even more bullish on Trump, giving him a 62% chance versus Harris’ 38%, especially after his latest interview on Fox.

Musk Powering Up Trump’s Campaign

Now, alongside the crypto crowd, Elon Musk has officially joined the ranks of Donald Trump's most enthusiastic supporters. Musk leaped into the air and threw his hands up as he hit the stage at a Trump rally in Butler, Pennsylvania, on Saturday.

It marked the first time Musk, CEO of Tesla and owner of the social media platform X, appeared at a Trump campaign event since publicly backing the former president following an assassination attempt on July 13 in the same location.

But it’s not just about the applause, jumping, and fiery speeches—Musk has bigger plans. He’s gearing up to run a broader campaign for the Republican candidate in Pennsylvania.

As the owner of X, Musk is using his platforms and influence to directly sway public opinion, creating a dedicated page on his social network, @America, described as supporting candidates who champion secure borders, sensible spending, safe cities, a fair justice system, free speech, and self-protection.

And he's not stopping there. Musk is encouraging registered voters in Pennsylvania to sign a petition supporting free speech and gun rights, sweetening the deal with a monetary reward. Billed as a simple way to "earn from what you already believe in," this move could have a significant impact on the voter base.

Nothing says "freedom of speech" like a billionaire handing out cash for your opinion.

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