63% of US Voters View Crypto Negatively, Citing Investment Risk and Lack of Regulation

• A majority of US voters hold negative views of cryptocurrencies, citing investment risk and the risk of fraud as the main reasons.
• Respondents pointed to high price volatility, weak regulation, and the possibility of asset losses as key factors behind the negative sentiment.
• Some respondents gave crypto a positive assessment for its investment returns, potential for asset appreciation, and use as a hedge against inflation.

Forecast Trend Report by Period

More than six in 10 US voters view the cryptocurrency industry negatively, according to a new survey.

CoinDesk reported on November 3 that 533 of 849 respondents, or 62.8%, expressed negative views on crypto in a poll of 1,000 registered voters conducted across the US in April. Only 316 respondents, or 37.2%, viewed the sector positively.

Views also diverged by political affiliation. Among Democratic-leaning respondents, 233 said they viewed crypto negatively, while 88 gave a positive assessment. Among Republican-leaning respondents, 212 were negative and 178 were positive, showing a narrower gap. Independents were also more negative than positive, by 88 to 54.

Respondents who viewed crypto negatively cited sharp price volatility, a lack of regulation and the risk of fraud as the main reasons. Some said cryptocurrencies were hard to regard as real money or inconvenient to use for payments. Others raised concerns about losing assets if passwords are lost, as well as government tracking of transactions and possible asset seizures.

Some respondents also cited President Donald Trump and his family's ties to crypto businesses as a reason for their negative view. Negative sentiment was especially pronounced among Democratic-leaning voters. By age, skepticism toward crypto was strongest among respondents aged 55 and older.

By contrast, respondents with a positive view cited investment returns and the potential for asset values to rise. Some described Bitcoin as a hedge against a weakening dollar or inflation. Others viewed it as a safer and more efficient means of transacting than the traditional financial system.

Younger voters were generally more likely to view crypto positively. Even so, among respondents aged 18 to 24, negative views still slightly outnumbered positive ones, at 24 to 20.

The findings come as the US crypto industry has poured large political donations into backing pro-crypto candidates ahead of the midterm elections. Despite the industry's push to expand its political influence, the survey showed that concerns over investment risk and credibility remain widespread among ordinary voters.

Suehyeon Lee