A new report has shed light on who tends to own Bitcoin (BTC) in the U.S. The Nakamoto Project’s inaugural study reveals that Bitcoin investors span across all political persuasions, disproving the notion that crypto ownership is a partisan issue.
From a demographic standpoint, the study found that most BTC investors are young and male. However, there’s significant diversity regarding race, ethnicity, income, and education levels among Bitcoin owners.
"American Bitcoiners can be found across the political spectrum— but they tend to be moderates," the Nakamoto Project noted.
The survey, which included thousands of adults nationwide and used census data to ensure representativeness, also highlighted that Bitcoin owners are more likely to align with the extremes of the political spectrum, whether very liberal or very conservative.
Despite high-profile endorsements from Republican figures such as Donald Trump and JD Vance, the authors emphasized that Bitcoin policy is not exclusively a Republican concern.
"Discourse among politicians, media elites, and social media users that politicizes Bitcoin ownership is highly misleading," the Nakamoto Project stated. "The distribution of Bitcoin-owning Americans across political categories mirrors the political distribution of all Americans. Bitcoin ownership is apolitical."
Morally, Bitcoin investors tend to value cultural liberty and equality more than non-owners of similar political leanings. They are also more likely to trust the technology behind Bitcoin, believe in its potential as an everyday payment method, and argue the technology’s and its holders’ morality.
"Learning about Bitcoin inspires trust in the protocol, which leads to belief in its utility and awareness of its potential for social good," the report stated. "It may be that individuals first buy Bitcoin as an investment, or for payments, and thus gain a deeper understanding and positive perspective."
Contrary to claims that Bitcoin is a cult-like phenomenon skewed politically, the Nakamoto Project concluded that Bitcoin ownership correlates more with knowledge and perceived utility rather than political affiliation.
"What correlates most strongly with Bitcoin ownership is not who you are, but how much you know about Bitcoin, and whether you think it is useful, trustworthy, and good," the study noted. "The 14% of Americans who own Bitcoin are not members of a particular political tribe but are individuals who have studied the technology and formed positive attitudes about it."
In essence, greater understanding of Bitcoin could shift neutral or negative perceptions. Simplifying educational materials and enhancing user experience on trading platforms could bridge gaps between skepticism and engagement in the crypto space.
