California Residents Hold Key to Crypto’s Future, Says Coinbase
Cryptocurrency exchange Coinbase has highlighted the significant role that California’s digital asset holders will play in shaping the industry’s future. According to research commissioned by Coinbase, 27% of Californian residents, or 8.2 million people, own digital assets and are supportive of pro-crypto policies and candidates.
Coinbase emphasizes that a large majority (78%) of crypto owners in California believe policymakers should support new and disruptive technologies. Furthermore, these individuals would back candidates who promote a strong US crypto industry, which they believe will provide greater access to wealth-building tools that traditional financial systems cannot offer.
Youthful Support for Crypto
A recent poll conducted by Toluna, on behalf of Coinbase, reveals that 40% of crypto owners in California are aged between 18 and 34. Coinbase suggests that younger generations in the US have a stronger appetite for digital assets compared to older age groups.
These younger individuals have grown up during the internet era and are more comfortable adopting innovative technologies that simplify their lives. They want to see continued innovation in order to move money efficiently and autonomously without relying on legacy financial institutions that shaped their parents’ and grandparents’ financial management.
National Support for Crypto-Friendly Candidates
Coinbase also notes that the majority of younger generations across the US support candidates who endorse cryptocurrencies. A national survey indicates that 51% of Millennials and Gen Z adults are likely to back crypto-friendly candidates in the 2024 elections. These voters will form a vocal minority in the upcoming election and are expected to represent a majority of American voters by 2028.
Source: Midjourney
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