Crypto investors are more likely to trust President Donald Trump and Republicans and Democrats to advance crypto in the U.S., as per a recent survey.
Mclaughlin and Associates conducted an online survey among 800 cryptocurrency investors during July 26-30 and it has revealed some insightful voting trends among those who invest in crypto.
The respondents have allocated a significant portion of their investment portfolio to crypto. A majority of them (57%) make their investment decisions without advisors and are long-term holders (42%).
Related: What is Crypto? Cryptocurrency explained
Among those surveyed, 38% of the respondents identified as Democrats, 34% as Republicans, and 28% as Independent.
39% of the respondents identified as Liberal, 35% as Moderate, and only 26% as Conservative.
However, when it comes to voting during the 2024 U.S. presidential election, the respondents favored Donald Trump over Kamala Harris.
In fact, 41% of them voted for Trump and only 37% voted for Harris. 21% didn’t vote at all.
54% of the surveyed crypto investors approve of the job Trump is doing, as opposed to 37% who disapprove and are more likely to trust him and Republicans (37%) than Democrats (24%) to advance crypto in the U.S., as per the survey.
73% of the respondents support Trump rolling back the Joe Biden administration’s regulations and enforcement on crypto. While the strong is highest among Republicans (89%), even a strong number of Democrats (64%) and Independent (65%) support the Trump administration’s crypto policy.
Nearly 64% of the respondents said the stance of the candidates regarding crypto is important to their voting choices.
While the Biden era saw the authorities going after several crypto companies over security law violations, his tenure also saw the regulator greenlighting the spot Bitcoin and Ethereum exchange-traded funds (ETFs).
In contrast, the Trump administration has come out strongly in support of the crypto industry. Not only have the authorities dropped lawsuits against crypto companies, but regulation regarding crypto is increasingly becoming easier.
Trump also signed an executive order to establish the U.S. strategic Bitcoin reserve and signed the GENIUS Act into law to regulate USD-pegged stablecoins. CLARITY and Anti-CBDC (Central Bank Digital Currency) Acts are work in progress.
