Australian Crypto Investors Poised to Impact Election Outcomes

Drawing on insights from a YouGov survey, the company determined that around two million Australian crypto investors—59%—are ready to support political candidates who favor cryptocurrencies. Just 5% voiced opposition to such support, while 33% said that a candidate’s stance on digital assets wouldn’t influence their vote.

For the first time in our political history we’re about to enter a federal election with a crypto voting bloc that’s big enough and motivated enough to swing the result. Bitcoin investors are typically more affluent Aussies aged under 50 and they’re ensconced in the inner and outer suburbs of our big cities. Key political battlegrounds,

said Jason Titman, CEO of Swyftx.

A survey conducted from February 3 to 10 gathered insights from roughly 2,031 voters, revealing that 22% invest in cryptocurrencies—amounting to an estimated four million people. Considering Australia’s overall population stands at about 26.6 million, including those who cannot vote due to age or immigration status, these numbers are quite significant. Despite this, many crypto exchanges, such as the European-based WhiteBIT, are looking to open local branches.

In parallel, recent initiatives by Australia’s crypto industry have focused on promoting the inherent advantages of blockchain technology while advocating for the introduction of coherent regulatory measures. Such regulation is deemed essential to ensure that Australia remains competitive on the global stage and within its regional context. Projections indicate that if a standardized regulatory framework is adopted, the percentage of adult Australians engaging in cryptocurrency could rise to 40% in the coming years.

Read on: Crypto Regulations in Australia: A Closer Look