Crypto voters were instrumental in pushing United States presidential candidate Donald Trump to victory at the recently concluded election, according to research firm Paradigm. The survey with Public Opinion Strategies showed that crypto was an integral factor in winning popular votes.
According to the survey, only 13% of voters currently hold digital assets, and they made a big difference in the election result. Most of them voted in favor of Trump, pushing him to victory. Meanwhile, both top candidates, Trump and Harris, had to settle for a tie among the 86% that do not currently own crypto.
The report also noted the effect of previous crypto holders, revealing their huge push in the election. However, crypto owners in favor of Trump decided to vote for Republicans over Democrats in the Congress elections. Non-crypto owners split 49-49 between Democrats and Republicans for Congress. Crypto owners voted for Republicans over Democrats by 13%, 55-42,” the report said.
Democrats failed to convince crypto voters
The report also revealed that the presidential race was a close call, at least until the final days before the election. It showed that only 21% were convinced about voting for Trump some days before the elections, while 50% made up their minds on election day.
It showed that the Democrats did a shabby job in convincing crypto voters, hence the vote for Trump in the end. The report noted that the Democrats tried a late rally to appeal to crypto voters, but it was unsuccessful. “Democrats had a real opportunity to win over crypto voters into the last few days of the campaign but were not able to, likely in part due to internal division within the party over whether to be pro-crypto,” the report read.
Justin Slaughter, Paradigm’s Vice President on Regulatory Affairs, said crypto holders supported the Republicans was a big thing because most of them were young crypto holders from other races. He mentioned that 43% of them voted for Biden in 2020, leading him to believe that Trump got votes from the Democrats because of crypto.
Slaughter revealed that the Biden administration’s treatment of crypto is what came back to hurt his party’s ambitions to retain power. “An industry that the Biden Admin didn’t focus on in 2020-21 became a major news topic, and rather than engage and learn about it, they presided over a few agencies’ efforts to destroy it,” he said. He added that the administration refused to give the crypto sector any chance, hurting consumers and businesses in the industry.
Crypto-friendly Senators dominate the Congress
GSR Head of Research Brian Rudick has revealed the increase in pro-crypto Senators in Congress. In his post on X, Rudick said there are 58% pro-crypto incoming Senators, a boost from the 50% leaving.
However, data has shown that the pro-crypto House of Representatives has dropped a bit, moving from 66% to 63%. This was majorly due to the increase in members without a position on the asset, affecting the anti-crypto reps, who dropped to 28%.
Rudick mentioned that the election was largely successful due to the actions of groups like Fairshake and Stand With Crypto. In his post, he noted that Stand with Crypto rallied about 2 million pro-crypto advocates, while Fairshake did its share by supporting pro-crypto candidates.