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A recent survey by Fairleigh Dickinson University found that former President Donald Trump’s outreach to cryptocurrency owners is paying off in this 2024 US presidential election season.
It seems that Trump's embrace of cryptocurrencies is paying off. FDU survey crypto-pays-off/” target=”_blank” rel=””>revealed that Trump has a significant lead among voters who own cryptocurrencies or related assets, beating Vice President Kamala Harris by 12 percentage points in the 2024 US presidential race.
The poll shows that 50% of likely voters who own cryptocurrencies backed Trump, compared to 38% who support Harris. By contrast, among those who do not own cryptocurrencies, Harris leads by 12 points, garnering 53% support to Trump's 41%.
The FDU survey also revealed that 15% of all registered voters in the U.S. have owned cryptocurrencies, nfts, or similar digital goods. This group is disproportionately made up of men, younger voters, and members of racial minority groups.
Interestingly, while Republicans are slightly more likely to own crypto than Democrats, the difference does not fully explain the 24-point swing in presidential support between cryptocurrency owners and non-owners, the poll found.
Cryptocurrencies, protagonists in this electoral season
During this election season, both parties have catered to the crypto community, aiming to attract the community and its financial contributions. Support among cryptocurrency owners indicates the growing influence of digital assets in American politics.
“Trump has been trying to reach out to the cryptocurrency community and it seems to have paid off. It can be easy to dismiss them as insignificant, but I don’t think people realize how widespread cryptocurrency ownership is.”
Survey Executive Director Professor Dan Cassino.
Trump has not been shy about expressing pro-crypto sentiment during his most recent campaign. Trump's stance on cryptocurrencies stands in stark contrast to his previous criticisms, in which he called cryptocurrencies a “scam” in a 2021 interview.
However, during this election cycle, Trump said he would embrace cryptocurrencies in his next presidential term. “Cryptocurrencies are moving away from America because of hostility towards them. I don’t want that. If we’re going to embrace them, we’ll have to leave them here,” he said. x.com/WatcherGuru/status/1788371259287327136″ target=”_blank” rel=””>saying at a recent demonstration.
Trump’s strategy to court the cryptocurrency community has been evident in recent months. In July, he gave a keynote speech at Bitcoin2024 in Nashville, where he expressed his strong support for the bitcoin (btc) mining industry despite concerns about its environmental impact.
On August 29, Trump announced plans to turn the United States into the “crypto capital of the planet” if he is re-elected, hinting at an initiative led by his children called World Liberty Financial. While details are limited, the project focuses on the tokenization of real-world assets.
On May 21, the Trump campaign launched a fundraising page that accepts donations in any cryptocurrency available on the Coinbase platform.
On the other side of the political spectrum, Democrats, led by Harris’ campaign team, launched the Crypto4Harris initiative in early August to engage with the crypto community and counter Republican efforts to appeal to crypto voters. The campaign aims to develop a pro-crypto policy framework to repair Harris’ relationship with the crypto industry.
As the 2024 presidential election approaches, Trump’s support for cryptocurrencies may be crucial in swaying undecided voters, particularly among demographic groups that have traditionally leaned toward the Democratic Party.
