KEY POINTS
- 69% of American voters are not satisfied with the current financial system, the poll found
- 49% of voters in the country 'trust neither party on crypto, including 40% of Democrats and 30% of Republicans'
- 43% of crypto owners voted for Biden in 2020 while 39% voted for Trump at the time
Most crypto owners are planning to vote for former President Donald Trump over incumbent President Joe Biden, according to a new poll that looked into the growing number of American voters with cryptocurrency holdings.
Tech research investment firm Paradigm released the results of its March 2024 Public Opinion Poll on Thursday, wherein it was revealed that 69% of U.S. voters are dissatisfied with the current financial system and have been turning to other options "where they have power."
The poll also found that 7% of registered voters, or 11 million Americans, own more than $1,000 worth of cryptocurrencies. However, the poll revealed that 49% of voters in the country "trust neither party on crypto, including 40% of Democrats and 30% of Republicans."
"The lack of trust voters have in either party on this subject shows that there is an opportunity for both parties electorally, if they focus their time and attention on crafting comprehensive policy proposals in crypto," Paradigm noted.
Still, the poll found that at present, 48% of crypto owners are planning to vote for Trump, while 39% are planning to go with Biden, and 13% have not yet decided who they will vote for. Overall, 45% of registered American voters plan to vote for the business mogul, and 42% plan to vote for the Democratic presidential frontrunner.
"Notably, among crypto owners, 43% recall voting for President Biden in 2020 and just 39% of crypto voters recall voting for former President Trump that year," signaling a shift in the political views of American voters "possibly because of actions taken by some agencies in the Biden administration," Paradigm wrote.
In conclusion, Paradigm pointed out that the latest data only shows how crypto owners have now become "a swing vote demographic," and this group of U.S. voters could have a decisive role in November's election, especially if the imminent rematch between Biden and Trump turns out to be "another razor-thin race."
The poll was released just days after Trump, who remains the GOP's presidential frontrunner despite his many legal woes, signaled a softening tone on how he views Bitcoin, the world's first decentralized cryptocurrency.
"If you think of it, it's an additional form of currency," he said, adding that he sometimes has "fun" with Bitcoin and sometimes allows people to pay using BTC. His remarks were a stark contrast to his bearish views of Bitcoin over two years ago when he said BTC "just seems like a scam."
