Crypto Power: California Holders Set to Shape 2024 Vote
A new study by Coinbase reveals that California’s crypto voters will play a significant role in the upcoming election. With a high number of crypto users in the state, pro-crypto candidates could see a boost in the polls.
California Crypto Owners Support Pro-Crypto Candidates
According to statistics from Morning Consult, around 8.2 million individuals, or 27% of Californians, own cryptocurrencies. The study shows that these crypto owners overwhelmingly support candidates who hold pro-crypto and blockchain positions. They believe that supporting the U.S. crypto industry is essential for job creation and U.S. geopolitical strength.
Support for Cryptocurrency Policies in the U.S.
Around 78% of American cryptocurrency owners believe that lawmakers should support innovative technologies. Many would vote for politicians who have pro-cryptocurrency policies. In the 2024 elections, a majority of Gen Z and millennial voters are likely to support candidates friendly to cryptocurrencies. Potential presidential candidates, Joe Biden and Donald Trump, have both shown interest in digital assets.
Demand for Clearer Policies
California’s pro-cryptocurrency voters reflect a larger desire for clearer regulations on digital assets. Coinbase emphasizes the need for predictable rules rather than an unpredictable regulation-by-enforcement approach. As the cryptocurrency market expands and integrates into the financial system, there is a growing need for better policies in the U.S.
This information is not financial advice but is provided for educational and informational purposes only. Any investment decisions should be made based on your own risk tolerance and due diligence. Bitcoin and other cryptocurrencies are high-risk investments.
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