Republican presidential candidate and former US President Donald ***** has garnered increased support from his party following his recent embrace of cryptocurrencies, according to a new Paradigm-sponsored survey.
Last month, Paradigm, a crypto-focused venture capital firm, polled 1,025 likely Republican voters’ views on the emerging industry, revealing their deep trust for the current financial system and their support for *****.
*****’s election chances
The survey revealed that about 13% of Republicans who claimed to have not planned to vote for ***** are now more likely to do so due to his pro-crypto stance. Another group of respondents also expressed increased enthusiasm to vote for the former president.
The former president has taken a more favorable stance toward crypto and pledged to support the industry. During his campaign, ***** vowed to make the US a Bitcoin mining “powerhouse” and said the flagship crypto “maybe [the] last line of defense” against a central bank digital currency (CBDC).
Meanwhile, most respondents recognized crypto as a significant force in the US economy. As a result, 40% suggested that the US government should create a pathway for American companies to develop products like stablecoin to compete against China’s central digital bank currency, the digital yuan.
Furthermore, about 60% of respondents stated that Congress should pass legislation to provide regulatory clarity for the crypto industry. Also, 40% believed elected representatives should oversee crypto regulation instead of unelected appointees at government agencies like the US Securities and Exchange Commission (SEC).
Crypto ownership
The poll also highlighted a rise in Republican’s crypto usage. Since March 2024, the percentage of Republicans owning or having bought crypto has increased from a national average of 19% to 28%.
Among these individuals, 87% plan to buy more crypto in the next year, while the remaining 13% intend to make their first crypto purchase within the next twelve months.
Many respondents cited distrust of financial systems as a reason for venturing into crypto. The report stated:
“72% of Republican voters are at least somewhat concerned that they could lose access to financial services due to their political or religious views.”
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