A new survey from the Pew Research Center reveals that Republican voters in the United States are leading in cryptocurrency adoption, with 22% reporting that they have invested in, traded, or used assets such as Bitcoin or Ether. By comparison, only 17% of Democrats say the same. The research, conducted at the end of January with 8,512 adult US citizens, highlights both the growing role of crypto in political alignments and the shifting dynamics within American society.
Partisan divide on crypto widens
The data indicate that this partisan split has not always been so pronounced. Before 2026, there was little difference between Democrats (and Democrat-leaning independents) and Republicans (including their independent allies) when it came to cryptocurrency ownership. However, since 2021, the share of Republicans participating in the crypto space has risen from 16% to 22%.
According to Morning Consult, the largest gap favoring Republicans was observed in the second quarter of 2025. In that period, 27.9% of Republicans stated that they had bought or sold crypto within the past year, compared to 17.3% of Democrats—a striking difference of 10.6 percentage points.
The divide in crypto adoption between Republicans and Democrats has grown in recent years, with especially marked increases among Republican voters after 2021.
Trump’s evolving stance on digital assets
Former US President Donald Trump initially held a skeptical view of digital assets in 2019, citing concerns about insufficient regulation and the potential for facilitating illegal activity. However, he later entered the crypto arena directly. In 2022, Trump launched his first NFT collection, becoming a visible player in the digital asset world.
Over time, the Trump family expanded their involvement, introducing NFT projects, announcing the World Liberty Financial initiative, and launching memecoins such as $TRUMP and $MELANIA. This marked a shift as Trump and his family moved from publicly criticizing the sector to actively participating in it. Reports suggest that the Trump administration has also taken steps aimed at turning the US into the “crypto capital of the world,” including moves that could allow more crypto companies to gain bank-like status.
Demographic divides persist
Research shows that political preference is not the sole factor shaping crypto adoption. Morning Consult data reveals that about 74% of crypto investors are men, with the gap widening among those under 45. From 2022 to 2026, the share of men under 45 investing in crypto fluctuated between 38% and 42%, while women in the same age group ranged only from 13% to 16%.
Ethnic backgrounds also influence adoption rates. Approximately 25% of Asian American adults report investing in, trading, or using crypto, with similar figures found among Black and Hispanic communities. While white adults still lag behind Asians, their participation has risen from 13% in 2021 to 18% today, now matching Black and Hispanic rates for the first time.
Fairshake ramps up Alabama campaign spending
The crypto sector’s political influence is expanding not just through voter preferences, but also through campaign spending. Fairshake, a leading political action committee in the space, and its affiliates spent $9.8 million on ads supporting Republican incumbent Barry Moore in the Alabama House race. Including direct mail and other costs, total expenditures reached $12.1 million.
Fairshake is recognized as one of the largest crypto-aligned political groups directing funds to favored candidates during election cycles.
Fairshake-linked groups entered May with nearly $150 million in resources, much of which is reportedly being reserved for the general elections this fall.
Moore faces retired Navy SEAL Jared Hudson in the Republican runoff, with Donald Trump expressing his support for Moore. Despite Trump’s endorsement, the contest remains competitive. Nevertheless, the political strategy has not always yielded results. In Illinois, Fairshake-affiliated groups spent about $9 million on ads opposing Democratic Senate candidate Julianna Stratton, but Stratton secured victory in the March primary.
The data underscores the rapidly evolving role of cryptocurrency in US politics. From partisan splits to major campaign contributions and shifting cultural attitudes, digital assets are increasingly at the forefront of America’s political and economic landscape.
