Liberals now outnumber libertarians in crypto community

While ‘crypto-enthusiast’ has often been synonymous with ‘libertarian’, a new study has revealed that the demographics interested in virtual currencies has significantly widened.

CoinDesk surveyed 1,200 crypto investors and found that 27 per cent of respondents desribe themselves as liberals, while only 24 per cent describe themselves as libertarians. Nine per cent said they were socialists, and 21 per cent conservatives.

This may seem arbitrary, but cryptocurrencies have become an inherently politic issue since they rose to mainstream attention last year.

The study also looked at how respondents’ allegiences were split between different currencies, with Bitcoin appealing much more to the right than EOS, where more than half are left-leaning.

CoinDesk commented: “The 2016 election had major impacts on the demographics of blockchain. Bitcoin was principally a conservative movement of goldbugs and libertarians in its early years. And an unheralded accomplishment of the ethereum blockchain might be in its ability to reach progressive blockchain investors.

“The 2016 election forced a divide in the community, with libertarian pursuits of independence and conservative principles finding ground in the dash, bitcoin, and bitcoin cash camps – and with collectivist interests of the left finding solutions in crowdfunding and governance structures.”