Main Points:
- Cryptocurrency owners in the U.S. are more likely to support Donald Trump over Kamala Harris.
- The stance of candidates on cryptocurrency has evolved significantly in recent years.
- Cryptocurrency owners may play a decisive role in a tightly contested election.
Cryptocurrency Ownership and Voter Preferences
A recent survey conducted by Fairleigh Dickinson University revealed a significant trend among U.S. voters who own cryptocurrency. The findings, published on August 30, 2024, indicate that these voters are more inclined to support the Republican candidate, Donald Trump, over the Democratic candidate, Kamala Harris. Specifically, Trump holds a 12-point lead among cryptocurrency owners, while Harris leads by 12 points among non-owners.
This trend suggests that Trump’s approach to the cryptocurrency community has resonated with these voters. According to Professor Dan Cassino of Fairleigh Dickinson University, Trump’s strategy to engage with cryptocurrency enthusiasts has been effective. He commented, “Trump seems to understand the growing significance of cryptocurrency ownership in the U.S., a fact often overlooked by others.”
Candidates’ Evolving Cryptocurrency Policies
The stance of both candidates on cryptocurrency has seen notable shifts in recent years. Trump’s position, in particular, has undergone a significant transformation:
- 2021: Trump referred to Bitcoin (BTC) as a “scam.”
- Current: He now defends cryptocurrency mining businesses and accepts cryptocurrency donations for his campaign.
Kamala Harris, on the other hand, has not shown the same level of enthusiasm. While she has not made many public statements about cryptocurrency, her advisors have indicated that her administration would support policies that foster the growth of the cryptocurrency industry.
The survey did not specifically ask about the candidates’ cryptocurrency policies, but it is clear that Trump’s shift in stance may be influencing his support among cryptocurrency owners.
The Potential Impact of Cryptocurrency Owners in a Close Race
Professor Cassino also highlighted the potential for cryptocurrency owners to play a pivotal role in the upcoming election. He noted that these voters are neither strictly conservative nor liberal and do not necessarily align with Trump’s “Make America Great Again” (MAGA) base. This makes them a crucial swing group in what is expected to be a closely contested election.
The unique structure of the U.S. Electoral College, where a small margin of votes can secure all the electoral votes of a state, means that the preferences of cryptocurrency supporters could be decisive. Historical precedents exist where a margin of just 11,000 votes in a state with millions of residents determined the election outcome.
Additionally, the potential influence of independent candidate Robert F. Kennedy Jr. cannot be overlooked. Although Kennedy expressed support for Trump after the survey was conducted, it remains uncertain whether his supporters will automatically transfer their allegiance to Trump.
As the election approaches, the strategies of both candidates toward cryptocurrency supporters will be critical. The voting behavior of this group could significantly impact the results in key battleground states. The evolving positions of the candidates on cryptocurrency will undoubtedly continue to be a focal point of the campaign.
