A recent poll conducted by Paradigm, an investment firm, revealed that a higher percentage of Democratic voters in the United States own cryptocurrency compared to Republicans. The study, released on March 14, also highlighted that neither party is considered trustworthy when it comes to handling crypto.
The poll discovered that 19% of registered U.S. voters possess cryptocurrencies. Among them, 19% identified as Democrats, 18% as Republicans, and 24% as independents. Interestingly, only 7% of voters own more than $1,000 worth of crypto, while 32% own stocks.
Former President Donald Trump appears to have a significant advantage among crypto-owning voters, with 48% of their support. Current President Joe Biden, on the other hand, received 39% of the vote. The remaining 13% remained undecided. This marks a notable shift since the previous presidential election, where 43% of crypto-owners voted for Biden and 39% for Trump. Paradigm analysts concluded that despite this, 49% of all voters and 45% of both party members do not trust either party regarding cryptocurrency.
In terms of demographics, men between the ages of 18 and 54 have the highest rate of crypto ownership, with 40%. Additionally, African Americans and Hispanics have higher-than-average ownership rates, with 33% and 32% respectively, compared to 20% and 22% last year.
The poll also touched on the topic of spot Bitcoin exchange-traded funds (ETFs). Since their approval by the Securities and Exchange Commission on January 10, 6% of U.S. voters have invested in them, and another 6% plan to do so. Additionally, 22% are considering investing in them.
In the political sphere, 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 as advocates for crypto. However, neither of them is seen as viable candidates.
Regarding former President Trump’s stance on crypto, he had previously expressed negative views during his administration and continued to do so after leaving office. However, he has since made millions from the sale of nonfungible tokens (NFTs) and acknowledged the use of crypto to purchase his branded sneakers. In an interview on March 11, Trump seemed to shift his position on crypto, describing it as having “taken its own life.” Nevertheless, observers remain skeptical of his allegiance.
The poll, conducted between February 28 and March 4, involved 1,000 respondents and has a margin of error of 3.5%.