Survey: Crypto Investors Favored Hillary in 2016, But Crypto Whales Voted Trump
- Crypto investors supported Hillary Clinton over Donald Trump by a wide margin in the 2016 election.
- But those who supported Trump have invested significantly more of their savings in cryptocurrency.
- Libertarian Gary Johnson was almost as unpopular with crypto investors as the general population.
A recent survey of the political affiliations among cryptocurrency investors found that crypto owners voted for Hillary Clinton over Donald Trump by a wide margin in the 2016 election. 46% of survey respondents said they voted for Hillary in 2016.
President Trump trailed far behind his Democratic rival in the survey, with 34% reporting they voted for the president. The actual popular vote percentages for Hillary and Trump were 48% and 46% respectively.
So these survey results show a dramatic skew toward the left among voters who own cryptocurrencies like bitcoin, ether, Ripple, and EOS. The survey was conducted by the creators of Clovr, an iGaming and eSports token geared to mainstream adoption. Respondents were 70 percent male, 29.5 percent female, and 0.5 percent “other.”
Kip Wright, project manager for Clovr, said:
We can expect these trends to continue as we get closer towards the 2020 election. Andrew Yang has been vocal about wanting to bring in a national framework on cryptocurrencies. This certainly bodes well for the progressive trendline.
And recently it seems like the rest of the Democratic field is cribbing their talking points from Andrew Yang’s platform, so we might hear more about crypto from Democrats in 2020.
Surprising Survey of Crypto Political Leanings
One might have expected the survey results to be more representative of the general population, or even to skew Republican. After all cryptocurrencies like bitcoin are ushering in a free market of competing currencies, and turning money into a product that can be designed with a variety of features and benefits for consumers to pick from. That sounds like something Paul Ryan supporters could get behind.
Crypto investors cast a surprisingly paltry number of ballots for Gary Johnson as well. Only 5% of the recent survey’s respondents said they voted for 2016’s Libertarian Party presidential candidate. His actual popular vote total was a little over 4 million, or 3.25% of the popular vote. So the crypto investors in Clovr’s survey voted for him within a margin of error of the general population.
But here’s an interesting twist in the survey results: Far more crypto owners voted for Hillary Clinton, but those who voted for Trump have invested significantly more of their savings in crypto coins than Hillary supporters.
Even though the average income of the Trump-supporting crypto investor is only slightly higher than Clinton’s supporters ($48,532 and $46,271), their average amount invested in crypto was $3,582 versus $2,556.
Why Crypto Investors Trend Democrat
It may not be entirely surprising that crypto owners lean to the left. Cryptocurrency is after all, a product of the information tech industry, which skews heavily Democratic. Younger people are also more likely to own crypto, and heavily favor Democrats over Republicans. Wright even says he was surprised there weren’t more Hillary supporters among crypto investors:
Since the tech industry has historically been left-leaning, one might expect cryptocurrency owners to be younger and progressive. Because of this, it was surprising to see a significant percentage who did vote for Trump.
On the issues, those that hold cryptocurrencies are also more progressive. 57% don’t support building a border fence between the US and Mexico, while 29% do. Only 13% disagree with legalizing marijuana, while 72% support it. 62% of crypto investors support more restrictions on firearms purchases, while 22% oppose it.
This article was edited by Samburaj Das.
Last modified: November 19, 2019 17:06 UTC