Crypto owners are more inclined to support former President Donald Trump, while those without digital assets lean towards Vice President Kamala Harris.
According to a survey conducted by Fairleigh Dickinson University’s (FDU) Poll, one in seven voters owns cryptocurrency.
The survey, led by Dan Cassino, professor of government and politics and executive director of the FDU Poll, found that among these, 50% support Trump, who has recently become a vocal advocate for digital currencies.
In contrast, only 38% of crypto holders back Harris.
Non-Crypto Owners Lean Toward Harris
The pattern is almost the opposite among non-crypto owners, where Harris has the support of 53%, compared to 41% for Trump.
The data also exposes a stark gender disparity in crypto ownership.
Men are more than twice as likely as women to have invested in digital assets.
Boys I don’t like to get political cause it’s mostly cringe.
But…….how the fuck can you not vote for Trump this election. I’m a die hard libertarian, but fuck…..I got 95% of my net worth in crypto and I’m butt chugging this kool aid. pic.twitter.com/6DNugJ0UdK— Crypto Mikey (@CryptoCX1) May 26, 2024
Cassino suggests that for many men, particularly younger ones, cryptocurrency represents a way to fulfill traditional societal expectations of financial success and technological savvy.
“Crypto is seen as an avenue for young men to achieve what society demands—to make money, be providers, and navigate the complex world of finance and technology,” Cassino wrote in a recent Washington Post analysis.
Despite the slim chance of significant financial gains, many view crypto as a potential path to prosperity that traditional methods, such as education and hard work, do not seem to offer.
To further explore this intersection of gender, crypto, and political allegiance, the FDU poll delved into respondents’ views on masculinity.
Masculine Men Less Likely to Own Crypto
The poll revealed that men who identify as “completely masculine” are less likely to own cryptocurrency.
However, a surprising trend emerged among men who don’t see themselves as entirely masculine but still adhere to traditional notions of masculinity, such as believing men should be in charge.
This group, which Cassino describes as being caught in a “masculinity trap,” is more likely to invest in crypto and support Trump.
About a quarter of men fall into this category, and they are predominantly younger, Black, and Latino.
Among them, 37% own cryptocurrency, a significantly higher proportion compared to 18% among other men.
For these individuals, Trump’s anti-immigration stance, opposition to China, and critiques of diversity, equity, and inclusion (DEI) policies resonate deeply.
Cassino argues that both crypto and Trump offer a kind of “false hope” for men who feel disconnected from traditional paths to success.
Trump’s recent overtures to the crypto community mark a sharp turn from his earlier skepticism.
After dismissing Bitcoin as a “scam,” he has embraced digital currencies more actively.
In a symbolic gesture, he purchased a burger with Bitcoin last week and unveiled a new crypto initiative, World Liberty Financial, alongside his sons, although they reportedly do not have ownership stakes in the venture.
At the Bitcoin 2024 conference, Trump made bold promises to strengthen the U.S. position in cryptocurrency, vowing to dismantle regulatory barriers and establish a national reserve of Bitcoin.
“The day I take the oath of office, Joe Biden’s and Kamala Harris’s anti-crypto crusade will be over,” he declared.
Trump’s pivot has even garnered the support of influential figures in Silicon Valley, including the founders of venture capital firm Andreessen Horowitz.
The former president’s campaign has also embraced crypto donations, although regulatory limits forced the return of $1 million in Bitcoin contributions from Tyler and Cameron Winklevoss.
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