New research suggests that crypto use in the U.S. is increasingly shaped by political affiliation, while a far larger divide continues to exist between men and women.
Recent findings from the Pew Research Center indicate that Republicans are now more likely than Democrats to own, trade, or use digital currencies such as bitcoin and ether. The survey, released on June 8 and based on responses from 8,512 American adults collected in late January, found that 22% of Republicans reported involvement with crypto, compared with 17% of Democrats.
According to Pew, the political split is a relatively recent development. Before 2026, Democrats and Democratic-leaning independents participated in crypto markets at rates similar to Republicans and Republican-leaning voters. Since 2021, however, Republican participation has climbed from 16% to 22%, while Democratic usage has remained largely unchanged.
Morning Consult analyst Eli Yokley said the divide became noticeable during 2023 and accelerated significantly during the 2024 election cycle. He believes President Donald Trump’s growing support for the cryptocurrency sector played a major role in that shift.
Critics argue that the industry’s longstanding focus on lighter regulation and reduced government oversight has naturally aligned it more closely with Republican policy preferences. Trump himself was once skeptical of digital currencies, stating in 2019 that he was not a supporter and warning about their potential misuse. In the years that followed, however, he became increasingly involved in the sector.
The president entered the market through a collection of NFTs launched in 2022 and later expanded into additional digital asset ventures alongside his family. These included the World Liberty Financial initiative, new NFT releases, and the launch of the $MELANIA and $TRUMP meme tokens.
The administration has also promoted policies intended to strengthen the country’s position in the digital asset industry, including efforts aimed at making the U.S. a leading global center for cryptocurrency innovation.
Data from Morning Consult showed the political gap reached its widest point in 2025’s Q2, when nearly 28% of Republicans reported buying or selling crypto within the previous year, compared with just over 17% of Democrats. The difference has since narrowed but remains noticeable.
Yet analysts stress that politics tells only part of the story. Gender appears to be an even stronger predictor of crypto participation. Morning Consult estimates that roughly three-quarters of cryptocurrency traders are men.
Researchers attribute much of that imbalance to differing attitudes toward financial risk. Younger men, in particular, have embraced speculative activities ranging from digital assets and meme stocks to sports wagering and prediction markets. Between 2022 and 2026, men under 45 consistently traded crypto at roughly double the rate of women in the same age group.
These surveys are likely to give crypto industry participants like Riot Blockchain Inc. (NASDAQ: RIOT) some food for thought in their bid to reach more investors to back their programs.
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