March 2024 Public Opinion Poll

Voters care about crypto.

While the mainstream media focuses primarily on the November general election horse race, more important structural trends are forming below the surface. One is that American voters increasingly understand the importance of crypto. They’re buying it, they’re holding it, and they understand its value.

Below, we share the results of a recent poll of 1000 registered voters Paradigm conducted a few weeks ago. As you’ll see, policymakers looking toward the future should be learning about crypto. Crypto is increasingly not just a part of our technology ecosystem but of our financial system, our economy, and our politics. Large numbers of voters are looking for policymakers who can boldly light a path forward on crypto policy.

Takeaway 1: Crypto is the best option for those left behind by traditional financial institutions. In a world where 69% of Americans are dissatisfied with the current financial system, folks are turning to other options where they have the power — instead of big banks.

Takeaway 2: 19% of American registered voters say they’ve bought crypto.

• This includes 19% of self-identified Democrats and 18% of Republicans
• 24% of self-identified independent voters have bought crypto
• Crypto owners are a much bigger segment of the electorate than is often appreciated among policymakers. A fifth of the country is not a niche subgroup.

Takeaway 3: Ownership of crypto is even higher among communities of color and among the young.

• 40% of men 18-54 have bought crypto.
• 33% of African Americans and 32% of Hispanics currently own, have traded, or used cryptocurrency in 2024, compared to 20% and 22% from last year.
• There has been much commentary about the shifting electoral preferences of young voters and nonwhite voters. It is clear that one thing these groups care about is how policymakers will approach crypto.

Takeaway 4: Notably, crypto ownership is greatest among college graduates, with 26% owning crypto.

• The educational group with the lowest percentage of ownership is voters with postgraduate degrees, at just 13%.
• This difference may be due to the fact that postgraduate degree holders benefit the most from the current economy and financial system.

Takeaway 5: Millions of voters own more than a small amount of crypto

• 7% of voters own more than $1000 of crypto
• And 1% of voters own more than $10,000 of crypto.
• Given that over 161 million Americans are registered to vote, that means that over 11 million registered voters own more than $1000 of crypto.
• As a point of comparison, our poll indicates that only 32% of voters own more than $1000 in stocks, despite crypto only existing for a bit over a decade, and 57% of voters do not own any stocks

Takeaway 6: Americans have noticed the option to buy Bitcoin spot ETFs in a big way.

• Since the approval of the spot Bitcoin ETFs two months ago, 6% of American voters have invested in them, and another 6% say they plan to invest in them.
• Another 22% of voters say they might buy a Bitcoin spot ETF, including 26% of men and 18% of women
• Spot crypto ETFs are, as expected, proving to be a major vehicle onboarding Americans into crypto, and may end up being a step to direct crypto ownership.

Takeaway 7: Americans don’t trust either party when it comes to crypto.

• 49% of voters trust neither party on crypto, including 40% of Democrats and 30% of Republicans
• This trend is equally true of Biden and Trump supporters: 45% of both groups don’t trust either party on crypto.
• The lack of trust voters have in either party on this subject shows that there is an opportunity for both parties electorally, if they focus their time and attention on crafting comprehensive policy proposals on crypto.

Takeaway 8: Crypto holders make up a good percentage of the current voting bloc, and it’s time elected officials take notice.

• With 19% of voters holding or using crypto and an additional 16% who are likely to invest in crypto, those numbers are sufficient to sway an election.
• Overall, 45% of registered voters are planning to vote for former President Trump, while 42% of voters are planning to vote for President Biden. This data largely matches other public data on the electoral horserace, including the latest Morning Consult poll, which has former President Trump narrowly leading President Biden 44% to 43%.
• At present, 48% of crypto owners are planning to vote for Trump, 39% are planning to vote for Biden, and 13% are undecided.
  • Notably, among crypto owners, 43% recall voting for President Biden in 2020 and just 39% of crypto voters recall voting for former President Trump that year. So it appears some of the voters President Biden is now losing to Trump are owners of crypto, possibly because of actions taken by some agencies in the Biden Administration.
• This data collectively shows that crypto owners are themselves a swing vote demographic, one that could be decisive if the election is yet another razor-thin race.