Australians Divided on Trump’s Crypto Impact, Survey Reveals

A recent survey conducted by Australian cryptocurrency exchange Independent Reserve has unveiled a stark divide in public opinion regarding former U.S. President Donald Trump’s influence on the cryptocurrency sector. The study, which comes in the wake of Trump’s return to the White House and a subsequent 40% surge in Bitcoin prices, highlights the complex relationship between politics and digital assets.

Key Findings

– Only 31% of Australians believe Trump is beneficial for the crypto sector, while 8% view his impact negatively.

– A significant 60% of respondents remained neutral on Trump’s effect on cryptocurrencies.

– Crypto investors show more optimism, with 50% viewing Trump favorably regarding his impact on the industry.

Investor Sentiment

The survey revealed a notable disparity between crypto investors and non-investors:

– Among active crypto investors, 50% viewed Trump’s impact positively, 44% remained neutral, and only 6% expressed negative sentiments.

– In contrast, just 20% of non-crypto investors saw Trump as a positive influence, while 10% held negative views.

Interestingly, the most committed crypto investors—those investing AU$10,000 ($6,400) per month—expressed no negative views on Trump, suggesting a strong belief in his policies driving greater adoption and innovation in the sector.

Political Implications

The findings come at a crucial time, with Australia’s federal election set to take place by May 17, 2025. A separate YouGov poll commissioned by Swyftx found that 59% of Australian crypto investors are more likely to vote for a pro-crypto candidate. With an estimated 2 million Australians holding digital assets, this emerging voting bloc could significantly influence the country’s political landscape.

Industry Challenges

Despite growing adoption, the Australian cryptocurrency industry faces several hurdles:

– Nearly 20% of survey respondents reported restrictions from their banks when attempting to buy crypto or experienced delays in processing payments to exchanges.

– Regulatory uncertainty remains a major concern, with no clear timeline for legislation despite the government’s conclusion of a consultation on a crypto framework in late 2023.

As Australia approaches its federal election and global markets react to Trump’s pro-crypto stance, the country finds itself at a crossroads in shaping the future of its digital asset sector. The survey results underscore the need for policymakers to address regulatory ambiguity and banking challenges to foster a thriving cryptocurrency ecosystem in Australia.

Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information