[NEWS] US cryptocurrency holders increasingly inclined to support Trump in the presidential election

According to a poll released by investment firm Paradigm on the 14th, voters who hold crypto assets (virtual currencies) are increasingly inclined to vote for Republican presidential candidate, former President Donald Trump.

In the poll, 48% of crypto holders indicated their intention to vote for Trump. 39% of crypto holders indicated their intention to vote for President Biden, about 10% lower than Trump. In addition, 13% are undecided about who they will vote for.

In response to these results, Paradigm said, "It is noteworthy that 43% of crypto holders voted for President Biden in 2020, while 39% voted for Trump. The reason President Biden is currently losing to Trump is because the number of crypto holders who are opposed to the Biden administration's policies has increased among the electorate."

Paradigm conducted this poll in collaboration with Public Opinion Strategies. According to the announcement, the survey was conducted online from February 28 to March 4 among 1,000 registered voters.

The survey found that 19% of registered voters said they have purchased crypto assets. This breakdown is 19% Democrats, 18% Republicans, and 24% independents.

The poll found that 6% of U.S. voters have invested in the Bitcoin spot ETF approved in January. Another 22% said they might invest in it in the future.

The poll shows that millions of voters hold more than a small amount of crypto assets, with 7% of voters holding more than $1,000 (about 150,000 yen). Also, 1% of voters hold more than $10,000 (about 1.5 million yen).

With over 161 million Americans registered to vote, that means over 11 million registered voters hold over $1,000 in crypto assets.

Paradigm said, "As expected, the Bitcoin spot ETF has proven to be a major way to get Americans into crypto assets, and it could be an important step in ultimately guiding them to own crypto assets."

It also points out, "As you can see, forward-thinking policymakers should learn about crypto assets. Crypto assets are increasingly becoming part of the financial system, economy, and politics, not just part of the technology ecosystem."

It adds, "Many voters are looking for policymakers who can boldly lead crypto-related policies forward. A whopping 69% of Americans are dissatisfied with the current financial system. People are starting to look beyond the big banks and toward other options where they have power."

Trump softens his stance on crypto assets

The US presidential election to be held in November has once again solidified as a de facto one-on-one battle between President Biden and President Trump. With a fierce battle expected this time around, Trump has softened his stance and is showing signs of embracing cryptocurrencies, perhaps in an effort to attract younger voters.

On the 11th of this month, he stated that "Bitcoin is a new form of currency," openly acknowledging that it is used in a variety of situations.

In opinion polls, an increasing number of respondents are supporting candidates who are positive about cryptocurrency policies, and Trump may have changed his stance in light of this situation.

Reference: Survey
Image: Shutterstock

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