As a researcher, I find it intriguing how the crypto community has emerged as a significant determinant in the U.S. presidential elections. With both major parties seeking their support, the demographics of crypto holders are worth exploring.
As a researcher examining the U.S. presidential elections, I’ve noticed an intriguing development in the crypto sphere. With the elections approaching, cryptocurrencies have gained unexpected significance, fueling debates on their potential role in determining the outcome of the race to the White House.
As a researcher studying the dynamic shifts in financial markets, I’ve observed an intriguing transformation in the perception of cryptocurrencies. Previously shunned by many, this market now garners endorsement from influential figures across the political spectrum, including former US President Donald Trump. In a recent rally, Trump expressed his intention to court the voting bloc of approximately 50 million crypto holders residing in the United States and reassured them that, should he be re-elected, their digital assets, particularly Bitcoins, would be safeguarded under his administration.
The Trump campaign now permits contributions in cryptocurrency, whereas the Biden administration has had to impose stringent SEC regulations on crypto businesses due to its federal agency’s involvement. Lately, two pro-crypto bills have been approved in the Senate with backing from both Democratic and Republican parties.
What drives the crypto community’s influence in the US political scene, and is the claim of 50 million American crypto holders by Trump accurate? Why are political parties so eager to win over crypto voters?
I will delve into the intricacies of the American demographic landscape of crypto holders, zeroing in on aspects such as age, gender, racial background, and income sources. To glean insights, I’ll refer to a range of surveys and reports published by esteemed organizations including Pew Research Centre, JP Morgan, and Paradigm Heights over the past year.
Crypto Community Statistics
In the 2020 United States presidential elections, a total of 158 million out of 240 million eligible voters cast their ballots. Among these, 81 million votes went to Joe Biden and 74 million votes were for Donald Trump.
According to a survey conducted by Pew Research Centre and released at the World Economic Forum in 2023, approximately 17% of US adults, equating to around 45.9 million individuals, had engaged in cryptocurrency trading as of December 2022. This figure represents a significant portion of the adult population in the United States, which was estimated to be approximately 270 million in 2020. Thus, former President Trump’s claim of 50 million crypto holders in 2024 can be considered accurate based on this data.
17% US Adult Population are Crypto Holders
According to a Pew Research Centre survey, approximately 88% of the American population has been exposed to cryptocurrency at some point in their lives.
Among the 17% of adults who have engaged with cryptocurrencies, the study uncovered intriguing details about their demographic characteristics.
Highest Millennial, Least Baby Boomers
Based on the findings from the Pew Research survey, I discovered that approximately 76.9 million out of the 270 million adult population in the United States own cryptocurrencies. Among these crypto holders, around 75.8 million are between the ages of 18 and 49: 28% fall into the 18-29 age group, while 57.2% belong to the 30-49 age group. In contrast, only about 12.2 million adults aged 50 and above own cryptocurrencies, representing a mere 8% of the crypto holding population.
Highest Asian, Least White
As a researcher examining the demographic data from the Pew Research Survey, I discovered that among the US population identifying as crypto holders, Asian ethnicity citizens comprised approximately one quarter (24%). Black and Hispanic communities followed closely behind, each accounting for around one fifth (21%). In contrast, individuals identifying as White made up the smallest portion (14%) of this crypto-holding demographic.
Huge Number of Small Crypto Holders
A recent report from JP Morgan uncovered that the typical US crypto investor holds a relatively small amount of cryptocurrency, with a median investment of $620 per user during the period from 2015 to 2022. Among all crypto investors, just 15% have transferred an amount equivalent to one month’s salary into crypto, while 80% invested less than that amount. An intriguing finding was that merely 5% of crypto holders have invested more than three months’ worth of the median US salary.
Biggest Crypto Investment Post-Pandemic
According to Pew Research Centre’s data, approximately 74% of cryptocurrency investors acquired their holdings within the last five years – a period marked by significant price increases for Bitcoin. Conversely, just about 10% of the population had invested prior to 2018.
Cryptocurrency as a Financial Alternative
According to the Paradigm study, approximately 69% of Americans have voiced their disappointment with standard financial institutions. In response, many have considered cryptocurrency as a credible replacement. This trend signifies a noteworthy move towards decentralized financial structures, especially among individuals who feel underserved by traditional banking systems.
Educational Disparities in Crypto Ownership
According to the paradigm report, the highest percentage of crypto ownership, which amounts to 26%, is among college graduates. In contrast, only 13% of individuals with postgraduate degrees own cryptocurrency. This disparity could possibly be explained by different advantages derived from the existing financial system by each educational group.
Significant Holdings Among Voters
As an analyst, I’ve discovered some intriguing data from the paradigm report: Over 11 million registered voters have invested over $1,000 in cryptocurrencies. This significant number underscores a noteworthy segment of the electorate when considering that stock ownership is often compared as a point of reference.
Rising Interest in Bitcoin Spot ETFs
The recent green light for Bitcoin spot ETFs has piqued considerable attention, according to the Paradigm report, with approximately 6% of investors currently holding crypto assets and more contemplating similar moves. This trend suggests an expanding mainstream adoption of cryptocurrency investment.
Distrust in Political Handling of Crypto
According to the Paradigm report, approximately half of all voters express distrust towards both major political parties when it comes to their handling of cryptocurrency policies. This mistrust is not limited to any particular party, indicating a potential chance for political advancement if parties develop trustworthy crypto agendas.
Crypto Voters as a Swing Demographic
As a crypto investor, I’ve been following the latest Paradigm report with great interest. The findings suggest that around one out of every five voters identifies as crypto users. These individuals could become a significant voting bloc, capable of swinging election outcomes with their votes.
Conclusion
As a crypto investor, I’ve noticed that the data indicates a substantial presence of individuals who are informed about cryptocurrencies among the voting population. These crypto-savvy voters aren’t just a sizable group but also influential in shaping political agendas concerning financial innovation and technology. With upcoming elections on the horizon, their role becomes even more pivotal, making it essential for policymakers to engage with this demographic to better understand their perspectives and needs.
Read More
- BODEN PREDICTION. BODEN cryptocurrency
- GHST PREDICTION. GHST cryptocurrency
- BETA PREDICTION. BETA cryptocurrency
- STRD PREDICTION. STRD cryptocurrency
- Mango Markets Exploiter Found Guilty Of Fraud And Manipulation
- GBP EUR PREDICTION
- MATIC PREDICTION. MATIC cryptocurrency
- LOOKS PREDICTION. LOOKS cryptocurrency
- BRN/USD
- TNSR PREDICTION. TNSR cryptocurrency
2024-05-29 16:05