According to Blockworks, a new survey from crypto investment firm Paradigm reveals that around 19% of American registered voters have purchased cryptocurrencies. The poll found that 19% of these crypto-owning voters self-identified as Democrats, 18% as Republicans, and 24% as independents. This figure aligns with a December study from Grayscale, which also found that 19% of voters held crypto, with 23% being men and 31% belonging to Gen Z.
Paradigm policy director Justin Slaughter addressed concerns that the 20% figure might be misleading, as many voters may only own a small amount of crypto. However, the survey found that 6% of crypto-owning voters hold values worth between $1,001 and $10,000, indicating a significant group with vested financial interests. Slaughter compared this to the 32% of voters who own more than $1,000 in stocks and the 57% who don't own any stocks.
The survey's release coincides with the increasing activity of crypto-focused political donors and super Political Action Committees (PACs). Crypto super PAC Fairshake recently spent over $10.1 million on advertisements and air time against Rep. Katie Porter in California's open primary for a US Senate seat. Porter lost to Rep. Adam Schiff, D-CA, who will face Republican Steve Garvey in November.
Despite the political divide, the Defend American Jobs super PAC, a Republican crypto-focused effort, donated to the most candidates of the crypto super PACs. The group spent around $4 million backing four Republicans in recent weeks. The poll was conducted by research firm Public Opinion Strategies, surveying 1,000 registered voters between February 28 and March 4.
