Swedish Consulate – Donald Trump efforts to attract support from the cryptocurrency industry in the current U.S. presidential election seem to be yielding positive results.
According to a poll conducted by Fairleigh Dickinson University. Cryptocurrency investors are more likely to vote for Trump rather than his rival, current Vice President Kamala Harris, in the 2024 presidential race.
The survey reveals that half of the cryptocurrency investor respondents plan to vote for Trump, while only 38 percent prefer Harris.
This outcome contrasts with the general population’s opinion, where 53 percent of individuals who do not own cryptocurrency support Harris, compared to 41 percent who support Trump.
“Trump has reached out to the crypto community, and it appears to be effective. While this may seem insignificant, many people are unaware of the extensive reach of cryptocurrency owners,” said Dan Cassino, a Professor of Government and Politics at Fairleigh Dickinson University, as cited by Coindesk.
Cassino noted that historically, the Republican Party, led by Donald Trump, has struggled to appeal to younger voters and people of color.
“Support for cryptocurrency is an issue that could attract voters who are otherwise more aligned with the Democratic Party,” he said.
It is also worth noting that the cryptocurrency industry has invested heavily in political donations during this election cycle. One study revealed that nearly half of all corporate donations to political action committees (PACs) this year came from cryptocurrency firms such as Coinbase and Ripple.
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Donald Trump Proposes High-Value Cryptocurrency Project
Previously, Donald Trump appeared to delve deeper into the cryptocurrency realm. This move aligns with his ambition to make the United States the global cryptocurrency hub.
According to The Straits Times, on August 30, 2024, the billionaire and former U.S. President announced in a video post on the social media platform X that he plans to establish the U.S. as the world’s cryptocurrency capital.
The post included a link to World Liberty Financial, a decentralized finance project recently promoted by Trump’s sons. However, details about the project’s structure promoted by Trump’s children remain unclear.
Although specifics are limit, the metadata of the website describes the project as an “advanced DeFi platform design to connect users with the best decentralized financial tools for secure and high-yield cryptocurrency investments.”
World Liberty Financial has also launched a channel on the social media platform Telegram, boasting over 52,000 subscribers.
“This afternoon, I outlined my plan to ensure that the United States will become the cryptocurrency capital of the planet,” Trump stated in the video post.
Decentralized Finance, or DeFi, is a cryptocurrency sub-sector aimed at eliminating intermediaries such as banks and brokers through the use of software-based applications.
Trump has significantly alter his views on cryptocurrency since re-entering the 2024 presidential campaign. In July 2024, he was a keynote speaker at a Bitcoin conference, where donors were asked to pay USD 844,600 for a seat at a roundtable discussion with Trump.
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