A recent survey by Paradigm, a top crypto venture capital firm, has showcased Donald Trump‘s popularity among the crypto community for the 2024 US Presidential Election.
The survey, involving 1,000 registered voters, revealed that 48% of cryptocurrency owners are inclined to vote for Trump, whereas 39% favor current President Joe Biden.
This poll ran concurrently with Bitcoin’s price hike to a record $68,000, reflecting the crypto market’s volatility during the survey period from February 28 to March 4, as noted by Public Opinion Strategies.
Despite Trump’s edge in the crypto sphere, broader poll results align closely with those from traditional polling organizations, showing a general preference of 45% for Trump against Biden’s 42% among all voters.
A notable skepticism towards both major political parties was observed, especially concerning crypto policies, with 49% of respondents distrusting both parties, indicating a significant political skepticism within the crypto community.
The survey further highlights the Republican Party’s and Trump’s specific appeal to crypto enthusiasts, particularly their stance against central bank digital currencies (CBDCs).
Trump has promised to prohibit CBDCs if re-elected, resonating with the crypto community’s apprehensions about such currencies’ implications.
This stance, coupled with congressional Republicans’ efforts to oppose a U.S. CBDC, underpins Trump’s favorable polling within the community.
The significance of crypto owners as an emerging voting bloc was underscored by the survey’s finding that 19% of voters own or use cryptocurrencies, with an additional 16% showing interest.
This demographic shift suggests that crypto owners could play a pivotal role in future elections, potentially swinging closely contested races.
The report indicates a shift from 2020, when crypto voters predominantly supported Biden, to a current preference for Trump.
Additionally, the poll unveils demographic trends in cryptocurrency ownership, with increased participation among people of color and younger individuals.
It reports that 33% of African Americans and 32% of Hispanics are engaged with cryptocurrencies, marking a notable increase from the previous year.
Paradigm’s survey, with a 3.5% margin of error, not only reflects the crypto community’s political leanings but also underscores the growing influence of digital asset owners in the electoral landscape, hinting at the need for policymakers to consider this constituency’s preferences and concerns.
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