- Coinbase reports 27% of Californians, approximately 8.2 million people, own cryptocurrency, indicating a significant influence on the upcoming 2024 elections.
- In California, 78% of crypto holders express a preference for policymakers endorsing innovative technologies.
- 51% of Gen Z and millennial voters nationwide express a likelihood to support candidates embracing cryptocurrency in the 2024 elections.
Coinbase has highlighted a significant trend in California. This indicates that approximately 8.2 million residents, that is 27% of the population, own digital assets.
Accordingly, the surge in crypto ownership is expected to influence the upcoming 2024 elections, with voters likely to favor candidates supporting crypto-friendly policies.
Pro-Crypto Sentiment
According to data from Morning Consult, a substantial 78% of crypto holders in California express a preference for policymakers who endorse “new, innovative, and disruptive technologies.”
These voters are inclined to support candidates advocating for the growth of the U.S. crypto industry, recognizing it as both a job creator and a source of geopolitical strength.
Voter Influence Beyond California
According to Coinbase, 51% of Gen Z and millennial voters across the United States support candidates embracing cryptocurrency in the 2024 elections.
This broader acceptance suggests that crypto-related policies are gaining traction among younger demographics nationwide.
“Congress and other policymakers should take note that crypto voters are engaged in their states and they want rules, not an unpredictable regulation-by-enforcement approach.”
The crypto exchange emphasized the pivotal role crypto voters could play in the electoral landscape. It states that nearly 4 in 5 California crypto owners are more likely to support candidates endorsing pro-crypto and blockchain positions.
This underscores the growing influence of the crypto community in shaping political narratives.
National Landscape and Presidential Candidates
A survey released by the Crypto Council for Innovation indicated a preference among U.S. voters for lawmakers who establish clear rules for cryptocurrency.
As primary elections unfold, both major political parties are witnessing discussions around digital assets. Also potential candidates like U.S. President Joe Biden and former President Donald Trump are factoring in crypto-related stances.
Florida Governor Ron DeSantis opposed U.S. central bank digital currencies before exiting the presidential race.
The call is for well-defined rules rather than an unpredictable regulation-by-enforcement approach. This emphasizes the need for a constructive and informed regulatory framework.
As the 2024 elections approach, cryptocurrency in politics is becoming increasingly pronounced.
The voters are likely to support candidates aligned with the future of digital finance.
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