Crypto Voters Impact on the 2024 Presidential Election
According to a recent report from crypto investment firm Paradigm, 5% of surveyed US voters who own cryptocurrencies identify as single-issue crypto voters, indicating that their primary concern is government policy surrounding digital currencies. This niche group could significantly influence the results of the upcoming Presidential election. The findings stem from a national survey that included 1,000 likely voters polled online, supplemented by an oversample of 247 independent voters.
Survey Insights on Cryptocurrency Investment
Paradigm discovered that 20% of those polled have invested in cryptocurrencies. Respondents were asked whether they considered government policy on cryptocurrency as the most critical factor in their voting decisions. A notable 5% affirmed this view, identifying as single-issue voters focused on crypto-related policies. Furthermore, a substantial 46% of respondents believe that cryptocurrencies will play a significant role in the economy in the long run, as opposed to being a fleeting trend.
The Tight Race Between Candidates
The upcoming election is anticipated to be highly competitive, with every vote potentially swaying the outcome. Paradigm pointed out that key swing states like Pennsylvania, Michigan, Wisconsin, and Georgia could be settled by just 1-2 percentage points, making the 5% segment of single-issue crypto voters potentially crucial. In the survey, Vice President Kamala Harris garnered support from 48% of participants, while former President Donald Trump received 46% backing. Notably, among the 20% of voters who own crypto, both candidates are evenly matched at 47% support each.
Crypto Opinions Among Voters
Regarding perceptions of candidate support for the crypto industry, 58% of crypto-owning respondents felt that Trump would be more beneficial for the sector, compared to 42% who favored Harris. Interestingly, among those who believe Trump would be better for crypto, 7% are planning to vote for Harris, while 2% of those who prefer Harris for crypto intend to support Trump. The report also highlights that both candidates are seen as promoting a more favorable environment for technology and innovation than the current Biden Administration.
The Future of Crypto Adoption in the U.S.
The findings indicate that American voters’ perspectives on cryptocurrency are evolving. A substantial 20% of respondents reported investing in or using cryptocurrencies like Bitcoin or Ethereum, and an additional 15% expressed intent to invest next year. This interest is even higher among independent voters, where 21% and 18% indicated similar intentions, respectively. Additionally, 1% of participants, including 3% of independents, reported making their first investment in crypto recently.
Demographics of Crypto Investors
The poll further reveals that 29% of male respondents have invested in cryptocurrency, while only 12% of women reported the same. Among racial demographics, the percentage of non-white voters who have invested in crypto decreased to 23% from March’s figures, whereas the percentage of white voters who invested rose to 19%. This data reflects a complex and diversifying landscape of cryptocurrency ownership and interest within the American electorate.