A recent poll shows that cryptocurrency owners in the US are leaning more towards Donald Trump than Kamala Harris. That said, the nationwide support suggests that the Republican candidate is slightly behind the Democrat candidate, who has gained points after the party switched their candidate for the top office.
Republican supporters are slightly more likely to own digital assets than Democrats. Trump leads Harris by 12 points (50% vs. 38%) among cryptocurrency owners in the US.
Donald Trump’s lead on this indicator can be attributed to his recent promises of change in the crypto space. In addition, the son of presidential candidate Donald Trump Jr. launched his new decentralized finance platform DeFi in August. He criticized traditional banks and financial institutions, accusing them of “manipulating the system to the detriment of ordinary Americans”.
According to Yaroslav Bogdanov, president of GDA Group, the US election race is a prime example of how cryptocurrencies can influence the political landscape.
“Donald Trump, who made his fortune using traditional financial instruments, has made a smart move by turning towards the innovative crypto-economy. Importantly, his statements and campaign promises have already been backed by action. In his potential vice presidential picks, Trump has chosen James D. Vance, a crypto-enthusiast and well-known supporter of digital assets who owns bitcoins worth hundreds of thousands of dollars. And Trump’s son is taking concrete steps to develop a cryptocurrency infrastructure, pointing out the imperfections in the U.S. economic system, which resonates with many members of the potential electorate in the midst of a cost-of-living crisis. Both Trump and Dee Vance are in favor of easing regulatory pressure, something the entire crypto industry has long craved”.
In addition, James Dee Vance is a young politician whose age matches the portrait of the American crypto investor, the expert emphasized. As early surveys have shown, the average supporter of digital currencies in the United States is a young male between the ages of 25 and 40.
The trend towards cryptocurrency investment is gaining momentum in American society. Accordingly, the U.S. presidential candidates’ stance on the treatment of digital assets matters in today’s election race.
“Trump, who regularly criticizes incumbent U.S. President Joe Biden for problems caused by age, is younger than his now former rival by only a couple of years. And presenting voters with a young, active vice president who understands the new financial mechanisms is a winning strategy that, if it does not bring victory to the Republicans, is likely to minimize the gap between the parties,” believes Yaroslav Bogdanov. He argues that the outcome could significantly influence the political landscape by either narrowing the margin of control between the major parties or reshaping the strategic approaches of both sides. Bogdanov suggests that such a result would lead to a more balanced and competitive political environment, potentially fostering greater bipartisan cooperation or more intense negotiation over policy issues. This shift could alter the dynamics of legislative action and influence the upcoming electoral strategies for both parties.
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