Donald Trump has fans in the crypto community, with 48% of crypto holders planning to vote for the former president, compared to 39% planning to vote for US President Joe Biden. There is. The numbers come from a poll of 1,000 registered voters commissioned by leading crypto venture capital firm Paradigm, which announced the results on Thursday.
The poll was conducted nationwide by Virginia-based Public Opinion Strategies from February 28 to March 4, during which time Bitcoin rose from $58,000 to $68,000. and hit an all-time high.
Paradigm notes that its poll reflects numbers that mirror those of other established polling companies, even without the lens of crypto holdings. 45% of all registered voters support Trump, with 42% supporting Biden.
“Americans do not trust either party when it comes to cryptocurrencies,” the company noted. “49% of voters do not trust either political party regarding cryptocurrencies, including 40% of Democrats and 30% of Republicans.”
Republicans have elevated cryptocurrencies to a higher place on their national platform than Democrats thanks to the debate over central bank digital currencies (CBDCs), which President Trump has vowed to reverse if elected in November. Congressional Republicans are seeking to enact a ban on CBDCs in the United States, a possibility reinforced today with the revelation that the Federal Reserve considers CBDCs to be one of its most important responsibilities.
Paradigm says its poll shows that crypto holders are no longer a niche or fringe demographic.
“Cryptocurrency holders make up a significant portion of today’s voting bloc, and it’s time for elected officials to take notice,” the company claims, adding that 19% of voters own or own cryptocurrencies. He pointed to poll results showing that 16% of respondents said they were likely to own or use cryptocurrencies. Invest in digital assets.
Paradigm's analysis states, “Cryptocurrency holders themselves are floating voters, and could have a decisive influence in the event that the election is once again a close race.''
The report goes on to note that cryptocurrencies are an issue that may have already changed significantly compared to the last matchup between Biden and Trump.
“43% of crypto holders remember voting for President Biden in 2020, while only 39% of crypto voters remember voting for former President Trump that year.” The paradigm is observing. “Thus, some of the voters President Biden is currently losing to Trump may also own cryptocurrencies, perhaps because of actions taken by some agencies in the Biden administration.”
These actions are not specific, but include a long-running campaign by the Securities and Exchange Commission (SEC) against the sale of “unregistered securities” and Treasury Secretary Janet Yellen's assertion that digital assets pose a threat to the nation. This may include statements such as. country's financial market. Biden's senior advisers have also called for tighter regulation of cryptocurrencies.
Paradigm’s poll also revealed changes in the demographics of crypto holders.
The report states that “cryptocurrency ownership is even higher among communities of color and young people,” with 33% of African Americans and 32% of Hispanics “currently owning a cryptocurrency by 2024.” , transaction, or use.” These numbers were 20% and 22% last year.
“There has been a lot of commentary about the changing electoral preferences of young people and non-white voters. One of the things these groups are interested in is how policymakers approach cryptocurrencies. That is clear,” Paradigm concluded.
This poll was conducted recently enough to capture some of the market enthusiasm surrounding Spot Bitcoin ETFs, which is believed to have fueled much of the recent bull run. Six percent of voters say they have invested in a crypto ETF, another 6 percent say they plan to, and a further 22 percent say they might buy a spot Bitcoin ETF.
“Americans have become largely aware of the option of purchasing spot Bitcoin ETFs,” the report states. “Spot Crypto ETFs, as expected, have proven to be a major vehicle to get Americans into crypto, and could ultimately be a step toward encouraging entry into cryptocurrencies.”Crypto Ownership of assets. ”
The poll has a margin of error of 3.5 percentage points.
