According to a recent poll conducted by investment firm Paradigm, a larger percentage of Democratic voters in the United States own cryptocurrency compared to Republicans. The poll, released on March 14, revealed that 19% of registered U.S. voters own crypto, with 19% being Democrats, 18% Republicans, and 24% independents. Interestingly, only 7% of voters own more than $1,000 in crypto, while 32% own stocks. Despite these numbers, the poll suggests that neither party can be trusted when it comes to handling crypto properly, as stated by the voters.
Former U.S. President Donald Trump seems to have a strong following among crypto-owning voters, with 48% of their support, while current U.S. President Joe Biden received 39%. The remaining 13% remained undecided. This marks a significant shift since the previous presidential election, where 43% of crypto owners voted for Biden and 39% for Trump. The pollsters concluded that despite this, 49% of all voters, including 45% of both party members, do not trust either party when it comes to crypto.
In terms of ownership rates, men between the ages of 18 and 54 have the highest rate at 40%. Ownership of crypto is also higher among African Americans and Hispanics, with 33% and 32%, respectively, trading or using cryptocurrency in 2024, compared to 20% and 22% last year.
Since the approval of spot Bitcoin exchange-traded funds by the Securities and Exchange Commission on January 10, 6% of U.S. voters have invested in them, and an additional 6% plan to do so, according to the poll. Another 22% are considering investing in them.
In the political landscape, after Republican pro-crypto candidates Ron DeSantis and Vivek Ramaswamy dropped out of the primary race, only independent Robert F. Kennedy, Jr. and Democrat Dean Phillips remained as advocates for crypto. However, neither of them is seen as a viable candidate.
During his administration, Trump expressed his dislike for crypto, and even after leaving office, he continued to speak unfavorably about it. However, he has since made millions from the sale of nonfungible tokens and noticed that many pairs of his branded sneakers were paid for with crypto. In an interview on March 11, he acknowledged that crypto has taken on a life of its own, which was seen as a change in his position. However, observers remain skeptical of Trump’s allegiance to the crypto industry.
The poll was conducted between February 28 and March 4 with 1,000 respondents, and it has a margin of error of 3.5%.