Bitcoin Holders Favor Trump 59% in 2024 Election, Shaping Political Landscape

Bitcoin ownership in the United States is increasingly becoming a significant political force, according to polling and research conducted by Cygnal. The data indicates that Bitcoin holders are not only interested in the long-term wealth potential of the cryptocurrency but also in shaping political outcomes. This growing constituency is influencing the political landscape, both domestically and globally.

Cygnal's recent poll, conducted between June 19 and 21, targeted 800 potential voters and revealed that Bitcoin ownership could be a predictor of voting inclinations, with immediate implications for the 2026 midterm elections. Pollster and Cygnal President, Brent Buchanan, highlighted the significance of this data, stating that the Bitcoin constituency is now a critical factor in elections. However, he also noted a wide gap between Bitcoin holders and the general voter population. Buchanan emphasized that this data presents both promise and opportunity for the Bitcoin community and the innovation industries surrounding it.

During the 2024 election, Bitcoin holders demonstrated their political preferences by voting 59% in favor of Donald Trump and only 34% in favor of Kamala Harris. This shift was significant compared to the general voter pool. Trump's campaign promises of more lenient crypto policies and the subsequent changes in the leadership of the US Securities and Exchange Commission (SEC) contributed to this trend. The election victory and the drive to liberalize crypto regulations led to multiple all-time highs for Bitcoin, further solidifying the holder ethos.

The emergence of crypto owners as a voting bloc has also been accompanied by a growing number of corporations building treasuries and older whales holding for the long term. This trend indicates a maturing market and increasing institutional interest in Bitcoin.

The voting profile of a Bitcoin holder is emerging as a stronger supporter of Trump than the Republican Party as a whole. However, Bitcoin holders generally lean Republican politically. Voters owning Bitcoin were younger, predominantly male, with more years of education, and higher income than the general population. Despite their strong convictions, Bitcoin holders were low-propensity voters, requiring encouragement to go to the polls and support their main preferences.

Bitcoin owners were also 53% likely to vote in person on election day or cast an early in-person vote, with just 15.5% opting for absentee or mail voting, compared to 23.8% absentee voting for the general population. Bitcoin holders have a different profile of voting issues, with inflation and the economy being their biggest concern. This issue profile diverges from that of general GOP voters, who are more dramatically supportive of crypto issues ranging from transactions to a national reserve. Democratic voters, on the other hand, are generally opposed to expanding access to crypto.

The most supportive crypto holders are in the 30-44 age bracket, with 61% approval for crypto in general. These voters are also more likely to support Republicans in the upcoming 2026 elections. Surprisingly, Bitcoin holders were not entirely maximalist, with 42% expressing a favorable opinion on meme tokens, compared to just 19% of the general population. This trend was tied to the last election cycle, sparking the trend of PolitiFi and official meme tokens, including Official Trump (TRUMP).