A new poll reveals that former Donald Trump is currently the top choice for U.S. voters who own cryptocurrencies.
What Happened: Paradigm, an investment company focused on crypto, commissioned the survey which was conducted by Public Opinion Strategies and released on Thursday.
The data shows that nearly half, or 48%, of cryptocurrency owners surveyed, intend to vote for Trump, while President Joe Biden garnered support from 39%.
However, the poll’s margin of error at 3.5% suggests the competition may be tighter than it appears.
During the online survey, 1,000 voters were queried, with approximately 7% revealing they hold over $1,000 in cryptocurrencies. Additionally, 19% reported having bought cryptocurrency at some point.
However, the poll also uncovered a lack of trust in either political party when it comes to handling crypto policy, with 49% of respondents expressing distrust towards both Democrats and Republicans alike. This sentiment also extends to Trump and Biden supporters, with neither group showing confidence in their party's crypto policies.
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Why It Matters: In a statement about the poll’s findings on Paradigm’s blog, Justin Slaughter and Dominique Little wrote: “Large numbers of voters are looking for policymakers who can boldly light a path forward on crypto policy.”
The poll findings also reflect a growing interest in the Bitcoin BTC/USD market among individuals, noting that more than 10% of those surveyed have either purchased (6%) or plan to purchase (6%) a Bitcoin exchange-traded fund (ETF).
This interest seems to align with the Security and Exchange Commission’s (SEC) recent warm reception toward Bitcoin spot ETFs, which was well-received beyond just institutional investors.
Price Action: At the time of writing, the price of Bitcoin was $67,000, down 8% in the last 24 hours, according to Benzinga Pro.
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