Grayscale has recently noticed that the new US president is likely to be in favor of Central Bank Digital Currency (CBDC). This is based on the current polling frontrunners in both political parties which have expressed their support for CBDC. Joe Biden and Donald Trump stand out as they have a healthy lead in the 2024 presidential polls. Trump has previously called Bitcoin (BTC) a “scam” and Biden has indicated his support for a 30% tax on Bitcoin mining.

After the release of the White House document, the 2023 Economic Report of the President, it became clear that Biden is generally supportive of Cryptos. On the other hand, Robert Kennedy, Jr. and Ron DeSantis, who are polling in second place, have been vocal about their support for Cryptocurrency; they are against CBDC.

Trump and DeSantis are not the only pro-Crypto candidates in the Republican party. Vivek Ramaswamy, who is given 7% support, is seen as being pro-Bitcoin and anti-CBDC. The most pro-Crypto contender on either side is Republican Miami Mayor Francis Suarez, however his presidential ambitions have been called “improbable”.

Overall, it is clear that the US presidential candidates are divided on their opinion of CBDC and Cryptos, with the current frontrunners leaning towards CBDC. It remains to be seen if the support for Cryptocurrency will continue to grow in the upcoming years.