Recent data from a Paradigm poll reveals that 48% of US crypto owners are leaning towards Donald Trump in the upcoming presidential race, with 39% favoring Joe Biden and 13% still undecided.

This is a change from the 2020 election, where 43% of owners recalled voting for Biden and 39% for Trump.

How Crypto Could Swing US Elections

Around 19% of voters hold or plan to invest in cryptocurrency, and around 11 million registered voters own more than $1000 worth of cryptocurrency. A little over a quarter of undergraduates, who comprised a notable portion of Trump’s voter base in the primaries, also own crypto. Therefore, new and old crypto supporters could be crucial in the 2024 elections.

This pivot towards Trump among crypto investors may be due to several factors. The Biden Administration’s regulatory actions against certain crypto companies and activities may have alienated some investors.

The US Treasury Department recently chastened crypto exchange Binance for its lax money laundering controls, while the US Securities and Exchange Commission’s (SEC) crypto case, Ripple vs SEC, occurred during Biden’s watch.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

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Author: David Thomas

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