A recent YouGov survey indicates that millions of Australians may vote for pro-crypto politicians in the next federal election, which must be conducted by May 17.
Millions of Crypto Voters in Australia
The poll, which was carried out by YouGov on behalf of Australian cryptocurrency exchange Swyftx, discovered that 59% of cryptocurrency investors are more likely to vote for a candidate who is pro-crypto.
According to Swyftx, this means a pro-crypto voting group of around 2 million Australians. The survey also found that 22% of voters have invested in crypto, which is about 4 million adults.
However, not all crypto investors are focused on politics. The survey found that:
One in three said a candidate’s stance on crypto does not matter.
5% of crypto investors said they would not support a pro-crypto candidate.
YouGov estimated that the most likely result of the election is a hung parliament Source:YouGov
Election Race is Close
The latest YouGov poll on February 16 showed that the center-right Coalition, led by Peter Dutton, is ahead and could win 73 seats. A party needs 76 seats to form a government.
This means that the current Prime Minister Anthony Albanese, from the center-left Labor Party, would need support from almost all independent politicians to stay in power.
Swyftx CEO on Crypto’s Role in Politics
Swyftx CEO Jason Titman said that this is the first time in Australia’s history that crypto investors could affect an election result.
He said that the majority of crypto investors are rich, below 50, and reside in major cities, which are target demographics in elections.
He further added that cryptocurrency users desire good laws that ensure investors are safeguarded and stimulate innovation, rather than the prevailing unclear regulations.
Titman said that while other countries are creating strong crypto laws, Australia has done little to keep up.
Older Voters Less Interested in Crypto
The survey also found that 18% of voters over 50 are less likely to support a pro-crypto candidate.
Titman admitted that the crypto industry needs to do a better job explaining blockchain’s benefits to older voters. He said it is important to show how crypto can boost productivity and investment in Australia.
