Crypto Voters Could Influence the Outcome of Australia's Upcoming Federal Election: YouGov Poll

Australia's upcoming federal election, scheduled for May 2025, could see a new wave of voters emerge — the pro-crypto bloc. A recent YouGov poll commissioned by Australian crypto exchange Swyftx has revealed that crypto investors could play a crucial role in determining the election's outcome. The survey of 2,031 Australian voters, released on February 19, indicates that around 59% of current crypto investors would be more likely to support a candidate who backs cryptocurrency and blockchain technology.

A Significant Voting Bloc

According to the survey, about 22% of Australian voters report owning cryptocurrency, translating to an estimated four million adults across the country. With 59% of crypto investors indicating they would favor pro-crypto politicians, this suggests that a pro-crypto voting bloc of approximately two million Australians could be poised to influence the election.

The survey also uncovered some intriguing insights into the views of crypto investors. While one-third of crypto owners said a candidate's stance on crypto wouldn’t impact their vote, a small minority—around 5%—stated they would be turned off by a pro-crypto candidate. These figures suggest that crypto policies could serve as a defining factor for a significant portion of the electorate.

Political Implications

In terms of the broader political landscape, the latest YouGov poll, conducted from February 3 to February 10, shows the center-right Coalition, led by Peter Dutton, is in a strong position to form a government. The poll suggests that the Coalition could secure 73 seats, just shy of the 76 needed to clinch power. This means Prime Minister Anthony Albanese’s Labor Party would need to win over a significant number of crossbenchers to stay in power.

Given the emerging influence of the crypto voting bloc, the next few months could see politicians from all sides courting the crypto community’s support. For the first time in Australia's political history, a substantial voting bloc—driven by the interests of crypto investors—could have the power to sway the results of a federal election.

Key Demographics and Concerns

Jason Titman, CEO of Swyftx, highlighted that crypto investors tend to be affluent, younger than 50 years old, and concentrated in key battleground areas, particularly the inner and outer suburbs of major cities. These regions are traditionally significant in determining the outcomes of federal elections.

Titman also emphasized the need for clearer regulation around cryptocurrency in Australia. “As an industry, we know our customers want clear rules that protect local investors and foster competition and innovation,” he stated. He noted that while other countries are rapidly adopting tailored cryptocurrency legislation, Australia has been slow to implement comprehensive policies, which has left many in the crypto community frustrated.

Generational Divide

The survey did reveal one notable challenge for crypto advocates: older voters. The poll showed that 18% of those aged over 50 were less likely to vote for a candidate supporting cryptocurrency, underscoring a generational divide on the issue. Titman acknowledged the need for better communication of the benefits of blockchain technology, especially to older voters who may be less familiar with crypto’s potential.

“It’s on us to do a better job of explaining the productivity and investment benefits of crypto technology to non-crypto users,” he said. “We need to help the broader population understand the value of blockchain beyond just digital currencies.”

Conclusion

As Australia gears up for its next federal election, the rise of a pro-crypto voting bloc could shift the political landscape. With two million potential voters now factoring crypto policies into their decisions, politicians may need to take a harder stance on blockchain and digital currency regulation. In this pivotal election, how candidates approach crypto could be a decisive factor, particularly for younger, affluent voters in key metropolitan areas. For the crypto industry, it’s a moment to push for clearer rules and policies that align with their desire for innovation, while also addressing the concerns of older Australians who may still be skeptical of this rapidly evolving sector.