Crypto use in America just became a partisan split

Overall Use Holds Steady, But the Political Gap Is New

About one in five American adults has now used cryptocurrency, but the headline number masks a significant shift in who is driving that adoption. A new survey by the Pew Research Center (@pewresearch) puts overall use at 19%, only a modest rise from 16% recorded in 2021. For the first time, however, the data reveals a clear partisan divide.

Republican adults now report crypto use at 22%, up from 16% in 2021, overtaking Democrats who have remained essentially flat at 17%. That six-point swing represents the most notable structural shift in the survey's findings, and it coincides with a period in which the Republican Party has moved to embrace digital assets as a policy priority.

Young Men Still Dominate, Skepticism Persists

The age and gender gap in crypto use remains as wide as ever. Men under 50 are more likely than both men 50 and older and women of all ages to have used cryptocurrency. For example, 42% of men ages 18 to 29 say they have ever invested in, traded, or used crypto, compared with 17% of women in the same age range, while 36% of men ages 30 to 49 have done so, versus 15% of women in that group. By contrast, adoption drops sharply among adults over 50, with roughly only 1 in 10 reporting any experience with digital assets.

Despite the political tailwinds, broader public confidence in crypto remains low. Roughly six in ten Americans (63%) say they have little to no confidence that current ways to invest in, trade, or use cryptocurrencies are reliable and safe, including three in ten who are not at all confident. That skepticism is even stronger among older adults, with 71% of those 50 and over saying they don't trust it, compared with 55% of people under 50.

The political realignment in crypto mirrors a broader shift in Washington. President Trump's first year of his second term brought historic federal support for cryptocurrency, marking a sharp departure from the cautious approach of previous administrations, including the installation of a pro-crypto Securities and Exchange Commission chair, Paul Atkins. That environment appears to be shaping public sentiment along party lines, even as total adoption figures remain modest.

Sources:
Pew Research Center: Majority of Americans Aren't Confident in the Safety and Reliability of Cryptocurrency (2024)
Pew Research Center: 16% of Americans Say They Have Invested In, Traded or Used Cryptocurrency (2021)