Crypto Ownership Among US Voters: Democrats Have More Skin in the Game Than Republicans 📊💰

A survey carried out by the investment company Paradigm reveals that American voters who support cryptocurrency prefer Donald Trump over current President Joe Biden by a margin of 9 percentage points.

Pro-crypto US voters favoring Trump, but distrust both parties.

Is owning crypto a red or blue state thing? According to a recent poll by Paradigm, it seems Democrats have a slight edge over Republicans when it comes to cryptocurrency ownership. But don’t trust either party to handle crypto correctly, say the voters.

In a surprising twist, the poll conducted by investment firm Paradigm revealed that 19% of registered U.S. voters own cryptocurrency. Among them, 19% were Democrats, 18% were Republicans, and 24% were independents. While these numbers may not appear to be significant, Paradigm emphasizes that “a fifth of the country is not a niche subgroup.”

Interestingly, former President Donald Trump seems to be the favorite among crypto-owning voters, with 48% of their support. Current President Joe Biden trails behind at 39%, while the remaining 13% remained undecided. However, this is a notable shift from the last presidential election, where Biden garnered 43% of the crypto-owner vote, compared to Trump’s 39%.

Paradigm’s analysis suggests that crypto owners could be a decisive swing vote demographic in future elections, particularly if the race is close. But despite this, a significant number of voters (45% from both parties and 49% overall) express skepticism and do not trust either party’s approach to crypto.

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Q: Why do crypto owners lean towards Trump? A: While the poll shows that Trump has a higher level of support among crypto owners, it is not indicative of his policy or stance on cryptocurrencies. Multiple factors, such as his name recognition and previous business ventures in real estate, may influence this support.

Moreover, the poll reveals that ownership of cryptocurrencies is more prevalent among men aged 18 to 54, with a staggering 40% ownership rate. Additionally, African Americans and Hispanics show higher-than-average ownership rates at 33% and 32% respectively, marking a significant increase from the previous year (20% and 22% ownership rates respectively).

The growing popularity of Bitcoin exchange-traded funds (ETFs) is another noteworthy finding. Since the SEC approved spot Bitcoin ETFs on January 10, 6% of U.S. voters have already invested in them, while another 6% are planning to do so. An additional 22% are considering investing in these ETFs, indicating a growing interest in crypto among voters.

As for the political landscape, the departure of pro-crypto Republican candidates Ron DeSantis and Vivek Ramaswamy from the primary race has left only independent Robert F. Kennedy, Jr., and Democrat Dean Phillips as the remaining advocates for crypto. However, neither of them is seen as viable candidates.

💡 Fun Fact: Did you know that former President Trump, despite expressing negative sentiments towards crypto during his administration, has since made millions from the sale of nonfungible tokens (NFTs)? Trump’s position on crypto has raised some eyebrows, with skeptics questioning his true allegiance to the industry.

The poll, which was conducted between February 28 and March 4 with 1,000 respondents, has a margin of error of 3.5%. It sheds light on the crypto ownership landscape among U.S. voters and shows that Democrats have a slightly higher affinity for digital assets compared to their Republican counterparts. However, both parties have a long way to go in gaining the full trust of crypto owners.

So, whether you’re a Democrat or Republican, embracing the potential of crypto is essential. Let’s hope that future political leaders understand this and enact policies that truly support the growth and innovation of this exciting technology!

📚 References:

1. Coinbase, Paradigm, others argue crypto mixer rules are a ‘waste of time’
2. Vivek Ramaswamy drops out of the 2024 US presidential race
3. OpenSea NFT Marketplace Prepares to Onboard Millions into the Web3 Space
4. Truth behind AI reply guys, Copilot picture panic, Trump deepfakes: AI Eye

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🔔 Hey readers! What are your thoughts on the current political landscape of crypto ownership in the US? Do you believe either party can fully understand and handle cryptocurrencies? Share your opinions and let’s start a lively discussion! Don’t forget to hit that share button and spread the word! 👇🚀

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