Trump’s Crypto Courtship Pays Off: 50% of Crypto Owners to Vote for Him

A recent poll by Fairleigh Dickinson University (FDU) revealed that cryptocurrency holders are more likely to support former U.S. President Donald Trump in the upcoming 2024 presidential election.

The survey was conducted among 801 registered voters nationwide. It found that 50% of crypto owners plan to vote for Trump, while 38% prefer Vice President Kamala Harris. In contrast, non-crypto owners favored Harris by a margin of 12 points, with 53% supporting the Vice President and 41% backing Trump.

The results suggest that Trump’s efforts to engage with the crypto community, including speaking at a cryptocurrency conference and releasing NFTs, may have bolstered his support among this group.

Furthermore, the poll highlighted the demographics of crypto ownership, showing that young men and members of racial minority groups are disproportionately represented among crypto holders.

According to the survey, 22% of Hispanic voters and 17% of Black voters reported owning or having owned cryptocurrencies or non-fungible tokens (NFTs), compared to 13% of White voters.

In a commentary, Dan Cassino, a professor of government and politics at Fairleigh Dickinson, noted the potential impact of crypto owners on the election. “Historically, Republicans have had a hard time reaching young people and people of color,” Cassino said.

Furthermore, he commented on the role of crypto as a divisive issue that could attract voters who might otherwise lean Democratic:

“Support for cryptocurrencies is very much a wedge issue that could win over voters that otherwise look more like Democrats.”

Notably, the crypto industry has been actively involved in the election cycle, with companies like Coinbase and Ripple contributing heavily to political action committees (PACs). In fact, a recent study found that nearly half of all corporate contributions to PACs this year came from crypto companies, making them a significant player in the election.

The poll also found that Republicans are slightly more likely than Democrats to own crypto, with 18% of Republicans and 11% of Democrats reporting ownership. However, the difference in ownership rates does not fully account for the 24-point swing in presidential support between crypto owners (Trump +12) and non-owners (Harris +12).

Essentially, the survey suggests that crypto ownership transcends traditional political boundaries. Liberals, moderates, conservatives, progressives, and MAGA voters are all equally likely to own cryptocurrencies.