Study Reveals Higher Cryptocurrency Ownership Among Republicans

According to PANews, a study conducted by the University of Pennsylvania involving 22,000 Americans over two years reveals that 41% of Republicans own cryptocurrency, surpassing the 32% ownership rate among Democrats. The research highlights that Republicans, particularly in southeastern states like Texas, exhibit greater trust in cryptocurrencies. This preference aligns with their inclination towards decentralized currencies, which resonate with their values of limited government and personal control. In contrast, Democrats tend to favor the traditional banking system. The survey also indicates that millennials, aged 25-44, are the primary investors in cryptocurrencies, followed by Generation X and younger baby boomers. The study notes that men are twice as likely as women to hold cryptocurrencies, yet only 7% of respondents are willing to accept cryptocurrency as a form of salary payment. Following Donald Trump's re-election in 2024, the proportion of Republicans holding cryptocurrency has significantly increased. Additionally, the Republican Party plans to introduce comprehensive cryptocurrency market regulation legislation within the next 100 days to establish a clear regulatory framework for the U.S. digital asset industry.