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Donald Trump Crypto Owners Favorite In US Presidential Race

Last Updated March 15, 2024 11:04 AM
Teuta Franjkovic
Last Updated March 15, 2024 11:04 AM
By Teuta Franjkovic
Verified by Peter Henn

Key Takeaways

  • Cryptocurrency owners favor Trump over Biden in the upcoming election.
  • Voters call for clear crypto policy direction.
  • There is a growing interest in Bitcoin spot ETFs among American voters.

A recent survey  commissioned by crypto investment firm Paradigm, released on Thursday, indicates that Donald Trump is the leading choice for US Presisent among cryptocurrency owners.

This poll highlights Trump’s popularity within the digital asset-owning demographic as the election approaches.

Cryptocurrency Owners Lean Towards Trump Over Biden

The poll, conducted by Public Opinion Strategies , revealed approximately 48% of cryptocurrency owners plan to vote for Trump. Meanwhile, 39% express support for President Joe Biden. Given the poll’s 3.5% margin of error, though, the actual difference between the two could be narrower. Furthermore, the presence of enough undecided voters could change the current trend.

In a survey of 1,000 voters, roughly 7% disclosed owning over $1,000 in cryptocurrency , with around 19% reported having purchased some form of cryptocurrency. When questioned about which American political party they trusted more to address cryptocurrency-related issues, 49% of the respondents chose “neither”. This reflects a significant level of skepticism or dissatisfaction with both parties’ approaches to crypto.

Voters Demand Bold Crypto Policy Leadership

Paradigm’s Justin Slaughter and Dominique Little explained :

“Large numbers of voters are looking for policymakers who can boldly light a path forward on crypto policy,”

With the presidential election just eight months away, the primary races have already garnered enough support to position Joe Biden and Donald Trump as the anticipated nominees for the Democratic and Republican parties. This preliminary phase has set the stage for a highly anticipated rerun of the 2020 election. The buildup to the nominations has been marked by a series of debates, campaigns, and public appearances.

Various polls  conducted on the general election depict a closely contested race between Biden and Trump, with many of them showing Trump holding a marginal lead over Biden. These polls reflect a divided electorate, where each candidate has a strong base of support but also faces significant skepticism from certain segments of the population.

This neck-and-neck scenario suggests that the upcoming months will be critical for both campaigns as they seek to sway undecided voters and consolidate their support base, making every move and policy proposal potentially pivotal in determining the outcome of the election.

12% of Americans Invested or Considering Investment in ETFs

Americans have significantly embraced the opportunity to invest in Bitcoin spot Exchange-Traded Funds (ETFs) following their approval two months ago. Currently, 6% of American voters have already invested in these ETFs, and a further 6% intend to do so. This emerging trend underscores the growing mainstream acceptance and interest in cryptocurrency investments among the U.S. electorate.

ETF ownership in US
Credit: Paradigm

Moreover, another 22% of voters are contemplating the possibility  of investing in a Bitcoin spot ETF, with a notable gender disparity where 26% are men and 18% are women. This suggests spot crypto ETFs are becoming a crucial gateway for Americans to enter the crypto market. They could even serve as a precursor to direct cryptocurrency ownership, thus further integrating digital assets into the broader financial landscape.

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