A recent poll reveals that among U.S. voters who own cryptocurrency, Donald Trump is the preferred candidate in the upcoming presidential election, leading Joe Biden by a margin. Commissioned by Paradigm, a crypto investment firm, and conducted online by Public Opinion Strategies, the poll shows Trump with a 48% favorability among crypto holders compared to Biden’s 39%. The poll, which has a margin of error of 3.5%, indicates a competitive race with the potential for undecided voters to sway the final outcome.
Insights from the Poll
The survey polled 1,000 voters, discovering that about 7% own more than $1,000 in cryptocurrencies, and 19% have made some crypto purchases. Interestingly, when asked about trust in handling crypto policy, 49% of respondents expressed no confidence in either political party. This sentiment underscores a significant portion of the electorate seeking leaders who can provide clear and progressive crypto regulation.
The Growing Influence of Crypto in Politics
Paradigm’s blog post, penned by Justin Slaughter and Dominique Little, highlighted the political implications of the findings. They noted a substantial number of voters are on the lookout for bold policymaking in the realm of cryptocurrency, indicating the growing importance of crypto policy in U.S. politics.
Additionally, the poll touched upon the bitcoin exchange-traded fund (ETF) market, with over 10% of participants indicating interest in either purchasing or having already purchased a bitcoin ETF. This interest from retail investors suggests that the SEC’s approval of bitcoin spot ETFs has caught the wider public’s attention, not just institutional investors.
Election Outlook
With the presidential election eight months away and the primaries solidifying Biden and Trump as the likely nominees for their respective parties, the general election is shaping up to be closely contested. Other general election polls show the candidates in a tight race, with Trump often holding a slight advantage.
This poll provides a unique perspective on the political preferences of crypto owners, a growing demographic that could play a pivotal role in the upcoming election, especially as issues surrounding cryptocurrency regulation and policy become increasingly prominent on the national stage.
