Voters who say that they own cryptocurrency favor former President Donald Trump over Vice-President Kamala Harris in the 2024 U.S. Presidential election, according to a new poll.
The latest results from the Fairleigh Dickinson University Poll suggest that the Republican presidential candidate is ahead by 12 points among likely voters who own crypto (50 to 38), while Harris leads by 12 among those who say that they don’t own crypto (53 to 41). However, this degree was not explained by any other factors.
Dan Cassino, executive director of the FDU Poll, said data shows that one in seven voters currently own cryptocurrency, and they tilt toward Trump, who has become a strong crypto advocate. Cassino stated: “Trump has been reaching out to the crypto community, and it seems to have paid off.
New results out this morning from the FDU Poll, looking at whether Trump's efforts to appeal to cryptocurrency owners make a difference in the election.
First off, crypto ownership is much more widespread than you think: 15% of registered voters in the US say that they own crypto— Dan Cassino (@DanCassino) August 30, 2024
“It might be easy to dismiss them as insignificant, but I don’t think people realize exactly how widespread crypto ownership is.”
Why the poll shows crypto owners may back Trump
Cassino also explained that Republicans historically have had a difficult time reaching young people and people of color.
Crypto ownership is more common among men (22 percent compared to 9 percent of women), younger individuals, and members of racial minority groups. While 13 percent of white voters report having owned cryptocurrency, the figure rises to 17 percent among Black voters and 22 percent among Hispanic voters.
However, support for cryptocurrencies is “very much a wedge issue that could win over voters that otherwise look more like Democrats.”
The FDU pollster also believes that the ideology underlying crypto is “based on distrust of existing power structures,” which is why he says it could make it a reasonable fit for Trump. He added that crypto owners don’t necessarily have a political leaning means that these voters could be swayed.
In addition, the poll revealed that men who identify as “completely masculine” are less likely to own cryptocurrency. Cassino refers to this group as being stuck in a “masculinity trap,” and they are more inclined to invest in cryptocurrency and back Trump. Roughly a quarter of men fit into this category, with the majority being younger, Black, and Latino.
Trump’s election pledge
Earlier this month, Trump revealed the details of who will be able to buy into the family’s World Liberty Financial crypto project. The allocation of crypto tokens will give 20 percent to the founding team, 17 percent set aside for user rewards, and 63 percent available for the public to purchase, according to an announcement made by founder Zak Folkman during the launch event.
His latest financial disclosure also revealed that the presidential candidate now owns more than $1 million in cryptocurrency, while his fourth NFT collection reportedly made around $2 million of sales.
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