California Voters Embrace Pro-Crypto Candidates in 2024: Coinbase

Coinbase, a cryptocurrency exchange based in the United States, has projected that crypto-focused voters in California will play a significant role in the 2024 elections. This prediction is based on the fact that a large number of Californians, around 8.2 million people or 27% of the population, own cryptocurrencies, according to data from Morning Consult. The majority of crypto holders in California, 78% to be precise, believe that policymakers should support new and innovative technologies. These crypto owners have expressed their willingness to vote for candidates who share their pro-crypto and blockchain positions, highlighting the importance of the U.S. crypto industry as a job creator and a source of geopolitical strength.

Coinbase’s findings are in line with a survey conducted by the Crypto Council for Innovation in January. This survey revealed that most U.S. voters prefer lawmakers who can provide clear regulations for cryptocurrencies. It also indicated that crypto users could be a decisive swing voting bloc in the 2024 elections. Coinbase has emphasized the need for Congress and policymakers to pay attention to the engaged and active crypto voting population, stressing the importance of implementing clear rules rather than relying on unpredictable regulation-by-enforcement approaches.

Interestingly, the support for crypto-friendly candidates extends beyond California. According to Coinbase, a majority of Gen Z and Millennial voters nationally, about 51%, are likely to support candidates who are favorable towards cryptocurrencies in the upcoming 2024 elections.

Cryptocurrencies have already become a campaign issue for Republican candidates. Former Florida Governor Ron DeSantis, who later withdrew from the race, spoke out against the introduction of central bank digital currencies in the United States. This sentiment has been adopted by former President Donald Trump, who has vowed that he will never allow the creation of a digital dollar if he is reelected.

The growing number of cryptocurrency owners and their support for pro-crypto candidates is expected to have a significant impact on the 2024 elections in California and potentially at a national level. Coinbase’s data supports the idea that crypto voters are highly engaged and want clear regulations for the industry. It is clear that cryptocurrencies have become a key political issue, and candidates will need to acknowledge and appeal to this influential voting bloc in order to secure their support.