Former US President Donald Trump is gaining more support from Republicans after his recent endorsement of cryptocurrencies, a survey by Paradigm reveals.
Paradigm, a venture capital firm focused on the crypto industry, surveyed 1,025 likely Republican voters last month. The survey aimed to understand their views on the emerging crypto industry and their trust in the current financial system. The results showed significant support for Trump and his pro-crypto stance.
Trump’s Election Chances
The survey found that about 13% of Republicans who initially did not plan to vote for Trump are now more
Trump’s Growing Support Among Republicans Thanks to Pro-Crypto Stance
Former US President Donald Trump is gaining more support from Republicans after his recent endorsement of cryptocurrencies, a survey by Paradigm reveals.
Paradigm, a venture capital firm focused on the crypto industry, surveyed 1,025 likely Republican voters last month. The survey aimed to understand their views on the emerging crypto industry and their trust in the current financial system. The results showed significant support for Trump and his pro-crypto stance.
Trump’s Election Chances
The survey found that about 13% of Republicans who initially did not plan to vote for Trump are now more likely to support him due to his favorable view of cryptocurrencies. Additionally, another group of respondents indicated an increased enthusiasm to vote for the former president.
Trump has promised to support the crypto industry during his campaign. He has pledged to make the US a leading country in Bitcoin mining and described the flagship cryptocurrency as a potential defense against a central bank digital currency (CBDC).
Importance of Crypto in the US Economy
Many respondents view crypto as a crucial part of the US economy. About 40% believe that the US government should enable American companies to develop products like stablecoins to compete with China’s digital yuan.
Furthermore, approximately 60% of respondents think that Congress should pass laws to provide regulatory clarity for the crypto industry. They also prefer that elected representatives oversee crypto regulation rather than unelected officials at agencies like the US Securities and Exchange Commission (SEC).
Rising Crypto Ownership Among Republicans
The survey also highlighted an increase in crypto usage among Republicans. Since March 2024, the percentage of Republicans owning or having bought crypto has risen from 19% to 28%.
Among these crypto holders, 87% plan to buy more in the next year, while the remaining 13% intend to make their first crypto purchase within the next twelve months. A significant number of respondents cited distrust of the current financial systems as a reason for investing in crypto. The report noted that 72% of Republican voters are at least somewhat concerned about losing access to financial services due to their political or religious views.
The post Trump emboldens support from Republican voters with pro-crypto stance, survey finds appeared first on CryptoSlate.
