As the race for the U.S. presidency heats up, a surprising frontrunner has emerged among tech-savvy consumers: Donald Trump, now dubbed the “Bitcoin President.” According to the latest findings from Elastos’ BIT Index, Trump is perceived as the most ‘crypto-aware’ and ‘crypto-ready’ candidate, outpacing Joe Biden and Robert F. Kennedy. With 38% of respondents predicting Bitcoin will become mainstream within four years and 80% envisioning it as a future ‘default’ currency, the survey highlights a growing acceptance of Bitcoin. However, while BRIC and Global South nations are leading the charge, Western nations lag in adoption. Could Trump’s crypto-friendly stance influence the future of Bitcoin on a global scale?

Who is the Bitcoin President?

In the U.S., half of tech-savvy consumers (50%) say Donald Trump is the most ‘crypto-aware’ presidential candidate with a strong understanding of the workings and benefits of Bitcoin, compared to Joe Biden (32%) and Robert F. Kennedy (19%). Globally, the figures are similar: Donald Trump (51%), Joe Biden (31%), and Robert F. Kennedy (19%).

Interestingly, the demographic breakdown shows that younger voters (18-24) are less likely to see Trump as ‘crypto-aware’ (45%) compared to older age groups (25-34 and 35-44), where he scores 54%. Biden (34%) and Kennedy (21%) receive a slight bump from the youngest demographic.

Trump is also seen as the most ‘crypto-ready’ in the U.S. (49%) compared to Joe Biden (30%) and Robert F. Kennedy (21%). This means tech-savvy consumers believe he is more prepared to embrace and promote the benefits of Bitcoin globally. Globally, the figures are: Donald Trump (51%) compared to Joe Biden (29%) and Robert F. Kennedy (20%).

Again, Trump fares less well with 18-24 year-olds (47%) compared to 25-34 year-olds (51%) and 35-44 year-olds (54%). Kennedy receives a slight uplift from 18-24 year-olds (24%).

Equally, Trump is seen by 42% of U.S. respondents as the presidential candidate most likely to spread the use and benefits of Bitcoin compared to Joe Biden (23%) and Robert F. Kennedy (14%). Globally, the figures are: Donald Trump (42%), Biden (23%), and Robert F. Kennedy (14%).

Trump receives less support from 18-24 year-olds (37%) compared to 25-34 year-olds (43%) and 35-44 year-olds (45%), while Kennedy receives a slight uplift from 18-24 year-olds (17%).

Outside the U.S., Nigerian respondents (59%), followed by the UK (56%) and Germany (54%), believe Trump is the most ‘crypto-ready’ compared to only 42% in India. 51% of Nigerians say Trump is most likely to spread the use and benefits of Bitcoin in their country compared to only 30% in India, suggesting Trump has work to do to convince one of the world’s fastest-growing economies that the U.S. should play a leading role in the expansion of Bitcoin.

Bitcoin is Going Mainstream

More than a third of tech-savvy consumers (38%) believe Bitcoin will become mainstream in less than four years. This belief is higher among 25-34 year-olds (41%) and 18-24 year-olds (40%). Additionally, 24% of tech-savvy consumers say Bitcoin will become mainstream in the next 4-5 years, and an overwhelming majority (80%) see a time when Bitcoin could become a type of ‘default’ currency in which most global transactions (such as commodities, real estate, and company valuations) are priced.

BRIC Nations and the Global South Moving Quicker to Embrace Bitcoin

There is a clear difference between traditional Western advanced economies and BRIC and Global South nations in their embrace and use of Bitcoin. Countries like the United Arab Emirates (51%), India (58%), and Nigeria (58%) are much more willing to use Bitcoin to store savings compared to the global average of 47%. Nations like South Korea (38%), the United States (41%), and Germany (45%) are slightly more reluctant to do the same.

24% of tech-savvy Indian consumers and 26% of UAE respondents use Bitcoin every day as their currency of choice compared to the global average of 18%, while only 11% of Germans, 13% of UK respondents, 14% of South Koreans, and 15% of U.S. tech-savvy consumers are prepared to do the same.

There is very strong acceptance among respondents in the UAE and Brazil (49%) that Bitcoin will go mainstream in less than four years compared to 22% in Germany, 25% in South Korea, and 36% in the UK. 91% of Nigerians and 90% of Indians see a time when Bitcoin could become a type of ‘default’ currency compared to only 70% in Germany and 73% in the UK and South Korea, and 75% in the U.S.

The Global Perspective on Crypto Leadership

“As we gather at Bitcoin 2024 in Nashville, it would be easy to become too focused on the Presidential Race and its potential to affect future support for Bitcoin, but we must remember to see this through a global lens,” said Jonathan Hargreaves, Global Head of Business Development & ESG, Elastos. “While it is clear Trump is seen as the crypto candidate by the majority of Americans, the more surprising outcome is that the whole world also sees him as a leading prospective policy maker in the space. This reflects the need for global leadership of the critical role crypto can play in our economic future. It also highlights the growing need for concerted policy action both in regulation and the positive application of Bitcoin that we see in the survey. We refer to this idea as the New Bretton Woods where the use of crypto can supplement the role of Gold in adding liquidity to global markets. This is clearly a time for America to collaborate with the world on crypto leadership.”

About Elastos

Elastos is a public blockchain project that integrates blockchain technology with a suite of reimagined platform components to produce a modern Internet infrastructure that provides intrinsic protection for privacy and digital asset ownership. The mission is to build accessible, open-source services for the world, so developers can build an internet where individuals own and control their data. The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works for them to better control their own data.

The author does not own or have any interest in the securities discussed in the article.