Survey: Republicans lead Democrats in cryptocurrency ownership, 41% to 32%

On January 8, according to a two-year study by the University of Pennsylvania covering 22,000 Americans, it was shown that 41% of Republicans own cryptocurrency, higher than the 32% of Democrats. Republicans have a higher level of trust in cryptocurrencies, especially in southeastern states like Texas where adoption rates lead the nation. The study pointed out that Republicans tend to support decentralized cryptocurrencies because their decentralized nature aligns with their preference for limited government and individual control. In contrast, Democrats are more supportive of traditional banking systems.

The survey also found that millennials (aged 25-44) are the main force investing in cryptocurrency followed by Generation X and younger Baby Boomers. Male ownership is twice as high as female ownership but only 7% are willing to accept cryptocurrency as a form of wage payment. Since Trump's re-election in 2024, there has been a significant increase in Republican ownership of cryptocurrencies and they plan to propose comprehensive crypto market regulation legislation within the next hundred days to clarify regulatory frameworks for digital asset industries in America.