According to a new poll, commissioned by Coinbase, the crypto community is more politically diverse than you might think.
In fact, in the poll released by Morning Consult on September 30 as part of Coinbase’s annual State of Crypto report, it shows that crypto voters are evenly split in the presidential race.
47% support Democratic nominee Vice President Kamala Harris, while another 47% are behind Donald Trump, the Republican candidate.
Voting intention of crypto owners. Source: Coinbase annual State of Crypto report
The data challenges the common assumption that crypto owners lean heavily Republican or Libertarian.
This may come as a surprise given the enthusiastic reception Trump received at this year’s Bitcoin Conference and the visible online support he garners within the crypto space. However, as Coinbase pointed out, crypto voters are more bipartisan than media narratives often suggest, making them a key group to watch in the upcoming election.
Many crypto voters concentrated in key swing states
Interestingly, it was revealed that a significant portion of crypto voters are concentrated in key swing states, potentially making them a decisive force in the upcoming November election.
The report highlights that approximately 6.5 million crypto owners reside in the 7 battleground states, a figure that exceeds the vote differential in those states during the 2020 election by more than 16 times.
This positions the crypto community as a critical swing block, and both campaigns are clearly paying attention. Trump, once a vocal critic of Bitcoin, has softened his stance, while Kamala Harris recently stressed the importance of maintaining U.S. leadership in blockchain and other emerging technologies.
With the race possibly coming down to a narrow margin of tens of thousands of votes, neither candidate can afford to alienate this growing voter base. However, the bigger question is how many Americans will actually cast their votes based on a candidate’s approach to digital assets.
Finally, a Federal Reserve survey estimates that while 18 million Americans owned or used crypto in 2023, this number is down from 28 million in 2021. The challenge remains whether digital assets will be a decisive factor for voters or if other issues will take precedence in this tight race.
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