According to a Paradigm survey, a cryptocurrency investment company, the U.S. voters who have cryptocurrency seem to favor the Republican presidential nominee, Donald Trump. The survey was conducted by Public Opinion Strategies and included 1,000 respondents, allowing them to “catch” the trends of political preferences among crypto holders ahead of the 2024 presidential election.
The poll results show that 48% of cryptocurrency owners are for Donald Trump, while 39% rally behind Joe Biden. This preference has an error margin of 3.5%, meaning the race might be closer than it seems. Being eight months ahead of the presidential election, with candidates nominated for both major parties, the poll’s results point towards an interesting feature of the crypto-savvy voters.
The survey also focuses on a big group of the electorate interacting with cryptocurrencies. 7% of the participants said they own more than $1,000 in cryptos, but 19% have done some kind of crypto purchase. This information implies that digital currencies are becoming a part of the political picture and calling for future politicians to have a clear picture of crypto policies.
A curious thing about the poll is voters’ trust, or distrust, toward political parties concerning cryptocurrency policy. Almost half of 49% of respondents indicated that they trust “none” of the parties to solve crypto-related issues adequately. This view is uniform across the board, with large groups of both Biden and Trump’s supporters sharing doubts about the two parties concerning the policy on cryptocurrencies.
The survey highlights a developing appetite for investing in cryptocurrencies among the US public, further evidenced by the interest in Bitcoin spot ETFs. Having consented two months earlier than the survey, 6% of voters have already invested in these ETFs, with an additional 6% expressing plans to invest.
Cryptocurrency ownership among voters provides an insight into a demographic profile that may impact future election results. The poll also shows greater crypto-usage by younger and non-white voters, with over 40% of men between 18 and 54 and more than 30% of African Americans and Hispanics purchasing or owning some cryptos in 2024.
This demographic change and the number of voters unsatisfied with the present financial system have the potential to make cryptocurrency policy a critical issue in future elections. In addition, the percentage of college graduates with crypto is higher than that of those with postgraduate degrees, indicating different views on financial systems with education levels.
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