Cryptocurrency holders are more likely to support former President Donald Trump, while those without digital assets are leaning toward Vice President Kamala Harris. According to a survey conducted by Fairleigh Dickinson University (FDU), one in seven voters owns a cryptocurrency.
The poll, led by Dan Cassino, professor of government and politics and executive director of the FDU Poll, found that among them , 50% support Trump , who has recently become a vociferous advocate of digital currencies. In contrast, only 38% of cryptocurrency holders support Harris.
The pattern is almost the opposite among non-cryptocurrency holders, where Harris has 53% support, compared to 41% for Trump. The data also reveals a clear gender disparity in cryptocurrency ownership. Men are more than twice as likely as women to invest in digital assets.
Cassino suggests that for many men, especially younger ones, cryptocurrency is a way to meet traditional societal expectations of financial success and technological proficiency.
“Cryptocurrencies are seen as a way for young men to achieve what society demands – making money, being providers and navigating the complex world of finance and technology,” – Cassino wrote in a recent Washington Post analysis .
Despite the slim chance of significant financial gains, many see cryptocurrencies as a potential path to prosperity that traditional methods, such as education and hard work, apparently do not offer.
To further explore this intersection of gender, cryptocurrencies and political affiliation, the FDU survey delved into respondents’ views on masculinity. The survey found that men who identify themselves as “fully masculine” are less likely to own cryptocurrencies.
However, a surprising trend emerged among men who do not consider themselves fully masculine, but still cling to traditional notions of masculinity, such as the belief that men should be in power.
This group, which Cassino describes as caught in a “masculinity trap,” is more likely to invest in cryptocurrencies and support Trump. About a quarter of the men in this category are young, black and Hispanic.
Among them, 37% own a cryptocurrency, a much higher percentage compared to 18% among other men. For these individuals, Trump’s anti-immigration stance, opposition to China and criticism of diversity, equality and inclusion (DEI) policies have deep resonance.
Cassino argues that both cryptocurrencies and Trump offer a kind of “false hope” for men who feel disconnected from traditional paths to success. Trump’s recent proposals to the cryptocurrency community mark a sharp turnaround from his earlier skepticism. After dismissing Bitcoin as a “scam,” he began to use digital currencies more actively.
In a symbolic gesture, he bought a burger with Bitcoins last week and unveiled a new cryptocurrency initiative with his sons, World Liberty Financial, although they reportedly have no stake in the venture.
At the Bitcoin 2024 conference, Trump made bold promises to strengthen the U.S. position in cryptocurrencies, promising to remove regulatory barriers and establish a national Bitcoin reserve. “The day I take the oath of office, Joe Biden and Kamala Harris ‘s cryptocurrency crusade will come to an end.” – he declared.
Trump’s change of position has even won the support of influential figures in Silicon Valley, including the founders of venture capital firm Andreessen Horowitz.
The former president’s campaign also accepted donations in cryptocurrencies, although regulatory restrictions forced the return of $1 million in Bitcoin donations from Tyler and Cameron Winklevoss.
