Bitcoin Holders in the US Are Not Members of a Particular Political Tribe, New Study Finds

Against all odds, a new study reveals an unexpected picture of bitcoin holders in the United States. Long perceived as activists of a particular ideology, these individuals demonstrate a more nuanced and diverse reality.

A new study reveals an unexpected picture of bitcoin holders in the United States, challenging common stereotypes and providing a fresh perspective on the intersection of technology and politics.

Contrary to expectations, bitcoin adoption does not lean significantly towards right-wing ideologies or libertarianism, the study reveals. The research, conducted by Andrew Perkins from Washington State University and Troy Cross from Reed College, involved 3,538 people and aimed to identify the factors influencing bitcoin ownership in the United States.

The study’s findings show that bitcoin holders are found across the entire political spectrum, although they tend to position themselves as moderates, reflecting the broader political distribution in the country. Young and male, bitcoin holders are also distinguished by their value system.

According to the study, which analyzed participants' values using moral foundations theory, bitcoin owners place a higher value on cultural freedom and equality than the average conservative or liberal. They align with conservatives on issues of purity, loyalty, and proportionality and with liberals on issues of care.

The results also indicate that very liberal respondents are the most likely to own bitcoin, with 21.9% ownership, compared to 17.6% for very conservatives and 14.3% for moderates. However, researchers emphasize that these differences are not substantial enough to suggest a clear political trend.