US voters who own crypto favor Donald Trump in the upcoming 2024 presidential elections, according to new surveys conducted by Paradigm.
The research-driven investment firm said on March 14 that 48% of crypto holders plan to vote for Donald Trump, while 39% plan to vote for Joe Biden — with 13% undecided.
That represents slightly more favor for Donald Trump than is seen among non-crypto holders, 45% of whom plan to vote for Trump compared to 42% for Biden.
The respondents’ attitudes are almost the opposite of the 2020 election when most crypto holders had a more positive attitude toward Biden. The report noted that 43% of crypto holders recall voting for Biden in 2020, while 39% recall voting for Trump.
Paradigm surveyed 1,000 registered voters overall and found that 19% of voters hold crypto, while 16% are likely to invest in crypto. According to Paradigm, these voters constitute a significant enough number to potentially sway the election in Trump’s favor.
Crypto is bipartisan
Investment rates in crypto do not differ greatly across the Democratic and Republican divide — with 19% of Democrats and 18% of Republicans claiming to have invested in crypto at some point. Meanwhile, a significantly higher percentage of independent voters — 24% — have invested in crypto, according to the report.
Additionally, a small number of voters — roughly 6% — are invested in spot Bitcoin ETFs, and another 6% plan to invest in the coming months, while 22% of the respondents said they may consider investing in them in the future.
In addition to crypto investment being a largely bipartisan activity, voters on each side do not trust party policies. Paradigm found that 49% of Americans do not trust either political party’s stance on crypto — comprising 40% of Democrats and 30% of Republicans.
Paradigm urged policymakers to take note of the broadest crypto participation rates, noting that “a fifth of the country is not a niche subgroup.” It suggested that both parties can gain advantages in elections by creating comprehensive policy proposals on crypto.
Paradigm’s data was gathered via a survey conducted by Public Opinion Strategies, which is generally considered a right-wing polling firm. The New Yorker labeled it “the leading Republican polling organization” in 2015, and several of its founders are members of the Republican party.
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