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Trump’s New Enthusiasm for Crypto Could Help Him Win More Votes: Poll — TradingView News
Former President Donald Trump’s recent embrace of cryptocurrency after long-standing skepticism could win him some votes among reluctant Republicans as he seeks to return to the White House in November, according to an industry-sponsored poll released Wednesday.
His party’s presumptive presidential nominee, Trump, has made a series of positive comments about helping the U.S. cryptocurrency industry that have caught the attention of some voters, according to a survey paid for by cryptocurrency investment firm Paradigm. The snapshot of Republican sentiment suggested that 13 percent of those who were not planning to vote for him felt his stance on cryptocurrency made them see them in a more positive light, according to data compiled by polling firm Echelon Insights.
According to the survey, a majority of respondents (60%) believe Congress should create regulations for cryptocurrency companies, while Republicans generally dislike the way the current financial system works.
“Republicans understand the appeal of cryptocurrencies and support Congressional action to establish clear and predictable rules,” Katie Biber, Paradigm’s chief legal officer, and Alex Grieve, the firm’s head of government affairs, wrote in a data analysis.
The poll of more than 1,000 likely GOP voters was conducted in mid-June, well before the televised debate that has thrown the race between Trump and President Joe Biden into turmoil. Trump has cruised toward his party’s nomination in this year’s primary, and the party convention approaches next week to make it official.
More than one in four Republicans surveyed had experience owning cryptocurrency (28%), and this involvement was especially prevalent among younger, male, and nonwhite demographics.
Respondents were nearly unanimous (94%) in their belief that their personal financial data should remain private, and among the smaller subset of people familiar with central bank digital currencies (CBDCs), 68% opposed it for the U.S. The results were somewhat more limited on whether the U.S. government should open the way for the private sector to produce payment products that can compete with China’s digital yuan: 40% of people said they favor it and 31% oppose it.
This year’s voter polls have revealed mixed feelings about cryptocurrency. This poll showed slightly more Republicans who responded to questions had a positive impression of cryptocurrency (36%) than a negative view (30%), but the 3.5% margin of error leaves some uncertainty in those levels.
A Harris Poll released in May suggested that fewer than one in three (31%) of voters in a handful of key swing states had a positive view of cryptocurrencies. A separate Harris Poll that polled a broader pool of likely U.S. voters, released later that month, showed that a third of voters said they would consider candidates’ stances on cryptocurrencies when deciding whether to support them. Cryptocurrencies could thus emerge as a deciding factor for voters, although their sentiments are not universally in favor of the sector.
Republican leaders appear to have gotten the message from crypto-friendly voters, with the Republican National Committee announcing earlier this week that it would include support for digital assets in the party’s platform.
According to national presidential polls, Trump remains in a tight race with President Joe Biden, although Trump’s slim lead widened after the CNN debate, in which Biden was perceived as having performed poorly and unsteadily.