A recent survey conducted by investment firm Paradigm has revealed that a larger percentage of Democratic voters in the United States own cryptocurrency compared to Republicans. The study, released on March 14, highlights the lack of trust among these voters when it comes to both parties’ ability to handle crypto properly.
According to Paradigm’s findings, 19% of registered U.S. voters own some form of cryptocurrency. This figure includes 19% of Democrats, 18% of Republicans, and 24% of independents. Interestingly, only 7% of voters possess more than $1,000 worth of crypto, while 32% own stocks.
Former President Donald Trump currently holds a significant advantage among crypto-owning voters, garnering 48% support compared to 39% for current President Joe Biden. The remaining 13% of voters remained undecided. This marks a notable shift from the previous presidential election, where 43% of crypto owners voted for Biden, while 39% supported Trump.
Despite these statistics, the poll reveals that 49% of all voters, including 45% from both parties, express a lack of trust in either party regarding crypto matters.
When analyzing the demographics of crypto ownership, men between the ages of 18 and 54 exhibit the highest ownership rate at 40%. Additionally, African Americans and Hispanics surpass the average ownership rate, with 33% and 32% respectively, showing an increase from the previous year’s figures of 20% and 22%.
Since the approval of spot Bitcoin exchange-traded funds by the Securities and Exchange Commission on January 10, the poll found that 6% of U.S. voters have already invested in them, with an additional 6% planning to do so. Moreover, 22% are considering entering the market.
In terms of political advocacy for crypto, the withdrawal of Republican pro-crypto candidates Ron DeSantis and Vivek Ramaswamy from the primary race has left only independent Robert F. Kennedy, Jr. and Democrat Dean Phillips to champion the cause. However, neither candidate is currently viewed as a viable option.
Former President Trump, who expressed a negative stance towards crypto during his tenure and even after leaving office, has seemingly changed his perspective. In a recent interview on March 11, Trump acknowledged the popularity of crypto, stating that it has “taken on its own life.” Despite this apparent shift, observers remain skeptical of Trump’s true allegiance.
The survey, which was conducted between February 28 and March 4, involved 1,000 respondents and carries a margin of error of 3.5%.
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