Crypto interest grows post-election, but skepticism remains high

The recent surge in Bitcoin prices, which neared $100,000 following Donald Trump’s re-election, coincides with increased optimism among cryptocurrency users, as seen in YouGov Profiles data.

YouGov Profiles continuously tracks consumer attitudes and behaviors, including views on cryptocurrency. Over the past year, 31% of U.S. adults said they were somewhat likely, likely, or very likely to use cryptocurrency in the next 12 months. However, in Profiles data collected over the past 28 days leading up to late November 2024—a subset of the past year—interest has risen to 38%. The likelihood increased by six points among Republicans (from 33% to 39%) and five points among Democrats (from 36% to 42%), suggesting growing interest in crypto across political viewpoints.

Despite rising interest in usage, most Americans do not want to completely forgo traditional currency. Only 16% of adults are willing to give up traditional banking for cryptocurrency, with Republicans and Democrats showing similar levels of agreement (16% and 18%, respectively). Furthermore, a majority —75% overall — disagree with this idea, indicating that while crypto adoption is growing, mainstream trust in its viability as a replacement for traditional financial systems remains limited.

Opinions on whether cryptocurrency is a fad also reveal skepticism. Over the past year, nearly half (49%) of U.S. adults agreed that “cryptocurrency like Bitcoin is just a fad.” This sentiment was consistent across political affiliations, with agreement levels at 51% among Republicans and 52% among Democrats. Only 26% of respondents disagreed with the statement, showing that while some see crypto as an emerging financial tool, many remain unconvinced of its staying power.

The data underscores a mixed picture: while interest in cryptocurrency use has grown following the election, broader concerns about its long-term viability persist, highlighting the ideological and practical divides shaping the industry’s future.

Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for the US is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.