According to US cryptocurrency exchange Coinbase, Californian digital asset holders will play a major role in the future of the sector.
In a new blog post from the company, Coinbase notes that a 2023 study from business intelligence firm Morning Consult shows that 8.2 million California residents (27% of the state’s adult population) own digital assets.
Nearly 80% of these digital asset holders say they are likely to support pro-crypto political candidates, according to a new poll from research firm Toluna, which was paid for by Coinbase.
Explains the exchange,
“In California, 78% of crypto owners believe policymakers should support new, innovative and disruptive technologies…
They would also support candidates who say a strong U.S. crypto industry will help future generations get ahead and expand access to wealth-building tools that the traditional financial system doesn’t offer to many Americans.”
The Toluna poll shows that 40% of crypto owners in California are between the ages of 18 and 34. Coinbase says younger generations in the US have a greater appetite for digital assets than older generations.
“They grew up during the Internet age and are comfortable adopting innovative technologies that make their lives easier…
They want innovation to continue so they can move their money efficiently and autonomously, without being burdened by traditional financial institutions that determined how their parents and grandparents managed their finances.”
Coinbase also says that nationally, the majority of younger generations in the US prefer candidates who support cryptocurrency.
“Nationally, a majority (51%) of Millenials and Gen Z adults say they are likely to support crypto-friendly candidates in 2024. These voters will be a vocal minority at the next election, and by 2028, younger voters will represent a large majority. majority of American voters.”
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