Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be continuing my look at the potential impact of a Trump or a Harris win in the upcoming United States Presidential election, while also looking at who crypto voters are in favour of winning.
You can find the first part of this story here: Trump v Harris: Crypto Perspective
Voters Divided
While it is clear to all observers that a gender divide exists in US politics and in this year’s presidential election, there is also a widening divide in the crypto narrative which is also intersecting with the gender divide. A professor of government and politics at Fairleigh Dickinson University and executive director of the FDU poll, Dan Cassino, noted that data has shown that one in seven voters own cryptocurrency. He stated these voters will tilt towards Donald Trump due to his favourable crypto stance.
Those who own crypto are backing Trump more than Harris, with 50% of crypto owners pushing for Trump and only 38% for Harris. It is the reverse for those who do not own crypto, with 53% in favour of Harris and 41% for Trump. Along with that, men are more than twice as likely as women to have owned crypto. Cassino told the Washington Post:
“Crypto is one option for men looking for a way to achieve the role they think society demands of them—to make money, to be providers, to be sophisticated about finance and technology. Despite the unlikeliness of using gains from these investments to buy a big house in a good school district, crypto seems to offer these young men a path to prosperity that the traditional routes of education, hard work and saving don’t.”
The intersection of crypto, gender, and support for Trump came about as the FDU poll asked men how masculine they were and if they subscribe to a “traditional” view of masculinity that preaches, for example, that men should be the boss. According to the poll the men who felt they were “completely masculine” are actually less likely than other men to be crypto owners. The more interesting data was the men who don't consider themselves as completely masculine and believe in traditional masculinity. Cassino stated:
“It’s these men—the men who are falling into this masculinity trap—who, according to our poll, are buying crypto and turning toward Trump.”
With about a quarter of men falling into this category, it is represented by younger as well as Black and Latino men. Among this group 37% are owners of crypto compared to 18% among other men. These crypto owners overwhelmingly favour Trump. Cassino explained how Trump’s hostility toward immigration, China, and DEI policies is appealing to the crypto masses, noting:
“Just as crypto investments offer a way to meet the increasingly unrealistic demands of traditional masculinity, Trump is offering these crypto-owning men reasons why they’re falling short. The fact that these proposals are unlikely to work is as irrelevant as whether these men will actually become bitcoin millionaires. Trump is offering a lifeline to men desperately searching for one.”
Cassino feels this shows a deeper issue and noted that the expectations of what men are supposed to be versus new economic and social realities are having clear implications on society. He explained that as long as the disconnect lingers then men will be lured by a “false hope of a way forward.” Not all will agree with this sentiment, as many believe that crypto is a way towards making financial gains and improving ones situation. It may not create a multitude of Bitcoin millionaires, but it can help to ease the burden on many.
With Trump showing strong signs of being a favourable president for crypto, his comments at the Bitcoin Conference 2024 will likely resonate with many of these men. He made bold promises to strengthen the U.S. position in cryptocurrency, with one of his key speeches noting:
“The day I take the oath of office, Joe Biden’s and Kamala Harris’s anti-crypto crusade will be over.”
Whether or not he follows through on these promises remains to be seen, but it has garnered the support of influential figures in Silicon Valley and many male crypto owners will see Trump as a preferrable president for their own investments.
Have a great day.
Peace. CryptoGod-1.
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