Crypto stalwarts prefer Trump – poll

Nearly half of owners of virtual currencies in the US plan to vote for the former president, according to a Paradigm survey

Former US President Donald Trump appears to be the leading candidate among potential voters who are holders of cryptocurrencies, according to a recent survey conducted by crypto investment firm Paradigm.

1,000 eligible voters were asked about their relationship with virtual currencies and about their political leanings ahead of the upcoming November Presidential election, according to Paradigm, which published the results on Thursday. Of these, 19% stated that they have at some point bought crypto, with 7% saying they currently hold more than $1,000 in cryptocurrencies and 1% claiming ownership of over $10,000. 

The results suggest that, out of the 161 million Americans registered to vote this year, there are currently over 11 million who own crypto and, for this group, policies regarding virtual currencies are important. That’s as 69% of voters stated that they were dissatisfied with the current financial system.

Of the crypto owners surveyed, 48% said they’d be voting for Trump and 38% for Biden. Notably, 43% of these voters recalled that they’d voted for Biden in 2020, while 39% had voted for Trump in that election. Paradigm is suggesting that these results could mean that Biden’s policies regarding crypto over the past four years may have lost him quite a few votes.

At the same time, Americans don’t appear to have much faith in either Democrats or Republicans when it comes to crypto, with 49% of survey respondents stating they have no trust in either party.

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“Large numbers of voters are looking for policymakers who can boldly light a path forward on crypto policy,” Justin Slaughter and Dominique Little of Paradigm surmised, in a blog post describing the results of the poll.

Earlier this week, both Biden and Trump officially secured their respective parties’ nominations for the election later this year, making them the two primary candidates in the presidential race.

While opinion polling has shown that American voters are not excited about a second Trump-Biden showdown, recent surveys have shown Trump leading his incumbent rival, with voters rating his performance in the Oval Office from 2017 to 2021 – particularly on the economy, crime, and border security – more positively than the rated Biden’s.