American cryptocurrency owners are equally divided over whether they prefer Kamala Harris or Donald Trump to take office next year,
according to a new Morning Consult poll conducted for the crypto exchange Coinbase
.
Cryptocurrency has become a pivotal issue in this year’s U.S. presidential election. Former President and Republican candidate Donald Trump has positioned himself as a
“crypto candidate,”
while Democratic candidate and Vice President
Kamala Harris has voiced her support for the crypto and blockchain industry
. This shift in the political landscape is a stark contrast to just a few years ago when both major parties were skeptical about the future of cryptocurrency.
The result of the changing perceptions is a dead-even split among crypto enthusiasts. The report’s polling indicated that an equal 47% of crypto owners intend to vote for Harris, while 47% say they’ll vote for Trump.
A significant increase in crypto owners
The Coinbase (
COIN
) report revealed that 52 million Americans own cryptocurrency in 2023, which is seven times more than the national vote differential in the 2020 presidential election. Additionally, cryptocurrency owners are concentrated in swing states, which will be crucial for either candidate’s victory in the November election.
“When we look at ownership by state, around 6.5 million crypto owners live in the seven battleground states,” the report says. “That’s more than 16 times the vote differential combined in these states in the 2020 presidential election.”
Seventy-six percent of crypto owners living in America say they own cryptocurrency because it gives them a sense of freedom, and nearly 87% believe that the current financial system needs an update, according to the report. Additionally, 74% of crypto owners want Congress to pass a clearer crypto regulations bill.
Diversity among crypto owners
The report highlights that crypto owners are significantly more diverse than the general U.S. adult population. Notably, 68% of crypto owners are Gen Z or millennials, 48% identify as non-White, and 70% earn less than $100,000 annually. According to the report, they will vote for a crypto-friendly candidate in November.
The report points out that the data contradicts the common perception that most crypto owners are Republican or libertarian. “They are a bipartisan group in terms of political identification and electoral intention,” the report says. “They are just as likely to vote for Kamala Harris as they are Donald Trump.”
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