A recent poll by Fairleigh Dickinson University (FDU) reveals a political divide between cryptocurrency owners and non-owners. The survey, led by Dan Cassino, a professor of government and politics and executive director of the FDU Poll, shows that cryptocurrency owners are more likely to support former President Donald Trump, while those without digital assets tend to favor Vice President Kamala Harris.
According to the survey, one in seven voters owns cryptocurrency. Among these crypto owners, 50% expressed support for Trump, who has recently become a prominent advocate for digital currencies. In contrast, only 38% of crypto holders back Harris.
Non-Crypto Owners Favor Harris
The political preferences of non-crypto owners are nearly the opposite. Among this group, 53% support Harris, while only 41% back Trump. This highlights a clear divide in political leanings based on digital asset ownership.
Gender Disparity in Crypto Ownership
The data also underscores a significant gender gap in crypto ownership, with men more than twice as likely as women to invest in digital assets. Cassino suggests that, for many men, particularly younger ones, cryptocurrency offers a pathway to achieving traditional societal expectations of financial success and technological expertise.
“Crypto is seen as a way for young men to meet societal demands—to make money, be providers, and navigate the complexities of finance and technology,” Cassino explained in a recent analysis for The Washington Post. Despite the limited likelihood of significant financial returns, many view cryptocurrency as a more accessible route to prosperity than traditional methods like education and hard work.
Masculinity, Crypto, and Political Allegiance
The poll also delved into respondents’ views on masculinity, revealing a complex relationship between gender identity and cryptocurrency ownership. Interestingly, men who identify as “completely masculine” are less likely to own cryptocurrency. However, a different trend emerges among men who don’t fully identify as masculine but still hold traditional views on gender roles, such as believing men should be the dominant gender.
Cassino refers to these men as being caught in a “masculinity trap,” and they are more likely to invest in cryptocurrency and support Trump. Around a quarter of men fall into this category, with a higher representation among younger Black and Latino men. Among them, 37% own cryptocurrency, compared to just 18% of other men.
For these men, Trump’s policies, such as his anti-immigration stance and opposition to diversity, equity, and inclusion (DEI) initiatives, strongly resonate.
Trump’s Pivot to Cryptocurrency
Trump’s recent embrace of cryptocurrency marks a dramatic shift from his previous stance. After once dismissing Bitcoin as a “scam,” Trump has now positioned himself as a champion of digital currencies. In a symbolic move, he recently purchased a burger using Bitcoin and launched a new crypto initiative called World Liberty Financial with his sons, although they reportedly do not have stakes in the company.
At the Bitcoin 2024 conference, Trump made bold promises to strengthen the U.S. position in the cryptocurrency market, pledging to reduce regulatory barriers and create a national Bitcoin reserve. He also took a direct swipe at the Biden administration, promising that, on his first day back in office, the current administration’s “anti-crypto crusade” would end.
Trump’s shift towards cryptocurrency has even garnered support from influential figures in Silicon Valley, including the founders of venture capital firm Andreessen Horowitz. His campaign has also accepted crypto donations, though regulatory limits recently forced the return of $1 million in Bitcoin contributions from Tyler and Cameron Winklevoss.
This evolution in Trump’s stance on digital currencies highlights the growing importance of cryptocurrency in political discourse, especially as it relates to younger voters and those disillusioned with traditional economic pathways.
