Coinbase Says 8.2 Million California Residents to Play Key Role in Crypto’s Future

According to a recent blog post from leading US crypto exchange Coinbase, California’s digital asset holders will significantly influence the industry’s future. The post highlights research indicating that 8.2 million, or 27%, of California residents own digital assets, with a considerable portion of them advocating for pro-crypto policies and candidates.

According to Coinbase,

“In California, 78% of crypto owners believe policymakers should be backing new, innovative, and disruptive technologies…

They also express willingness to support candidates who advocate for a robust US crypto industry, seeing it as crucial for empowering future generations and providing access to wealth-building tools that the traditional financial system often lacks.”

Recent polling conducted by Toluna, commissioned by Coinbase, reveals that 40% of California’s crypto owners fall within the 18-34 age group. Coinbase notes that younger demographics in the US display a greater interest in digital assets compared to older generations.

“They’ve grown up in the internet era and are comfortable embracing innovative technologies that streamline their lives…

They desire ongoing innovation to facilitate efficient and autonomous money management, free from the constraints of legacy financial institutions that shaped their parents’ and grandparents’ financial practices.”

Furthermore, Coinbase highlights that nationally, a majority of younger generations in the US prefer candidates who endorse cryptocurrency.

“Across the nation, a majority (51%) of Millennials and Gen Z adults express likelihood in supporting candidates favorable to crypto in the 2024 elections. These voters will constitute a vocal minority in the upcoming election, with younger voters projected to represent a majority of America’s electorate by 2028.”

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