2024-8-13 22:00 |
Vice President Kamala Harris may need to attract more support from the crypto community to strengthen the Democratic Party’s chances of winning the November elections, according to a recent survey by crypto investment firm Paradigm.
The survey, which polled 804 registered Democrats, found that 13% are undecided about voting for Harris. Of these, 18% have invested in crypto, while 21% of these crypto investors feel the Biden administration has been “too hostile” toward the industry.
Non-Harris Democrats Voters (Source: Paradigm)Overall, the survey indicated that due to the Biden administration’s perceived hostility toward crypto, a small but notable fraction of Democrats —between 1% to 2% — may be leaning toward Republican candidate Donald Trump.
The poll was conducted between July 25 and Aug. 1, shortly after Biden announced his withdrawal from the Democratic nomination. It has a 3.5% margin of error.
Democrats cryptoMeanwhile, the survey also revealed a growing interest in crypto among Democratic voters.
According to the report, 18% of Democrat voters have invested in crypto, with expectations that this figure will rise over the next year.
Among this demographic, 9% are “very likely” to invest in crypto in the coming year, and 18% are “somewhat likely.” Conversely, 54% indicated they are “not at all likely” to invest in the emerging industry.
Democrats Crypto Holders (Source: Paradigm)Justin Slaughter, Paradigm’s policy director, pointed out that Democrats want the US to lead the world in high-tech software innovations “including cryptocurrency.” He said:
“If you think everyone dislikes crypto, that’s a sign you’re in an information bubble.”
Meanwhile, support for crypto is notably higher among non-white Democrats. While 18% of all Democratic voters reported owning crypto, the percentage is 22% among Black Democrats, 25% among Hispanic Democrats, and 27% among Asian American and Pacific Islander Democrats.
Democrats Crypto Holders (Source: Paradigm)The survey also reveals that only 8% of respondents owned more than $1,000 in crypto, while only 5% owned more than $10,000.
Slaughter highlighted that the size of crypto holdings can influence election decisions. He noted:
“Among the 5% of Democrats who own more than $10,000 in crypto, 33% say it will be a voting issue for them, along with 23% of all crypto owners.”
The post Harris needs crypto support to win undecided voters, survey shows appeared first on CryptoSlate.
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