Crypto-Oriented Voters in California Could Significantly Impact 2024 Elections, Predicts Coinbase
Summary:
Coinbase, a U.S.-based cryptocurrency exchange, predicts that crypto-focused voters in California will have a significant influence on the 2024 elections. A majority of Californians owning cryptos (27% or 8.2 million people approximately) favor proponents of innovative technologies in polls. At the national level, 51% of Gen Z and Millennial voters are likely to support crypto-friendly candidates. Both current U.S. President Joe Biden and Donald Trump have reportedly acknowledged crypto issues in their respective campaigns. Data from Coinbase resonates with a survey from the Crypto Council for Innovation, suggesting a possible key swing vote from the cryptocurrency user community in 2024.
Coinbase, a renowned cryptocurrency exchange headquartered in the U.S., anticipates that voters in California with an interest in cryptocurrency will significantly influence the 2024 elections. This prediction, shared in a blog post dated February 9, is based on Californians' ownership of digital assets and their stance on cryptocurrency-related regulations. Information sourced from Morning Consult, a business intelligence firm, revealed that approximately 27% of Californians, translating to roughly 8.2 million individuals, possess cryptocurrencies. A significant majority of these digital asset owners in California, totalling 78%, shared that they support new and disruptive technologies, and would vote in favour of candidates promoting such innovations. Coinbase further explained, "Crypto owners in California largely express a willingness to show more support for candidates who encourage and endorse cryptocurrency and Blockchain technology. Nearly 80% of these individuals stated the likelihood of supporting a candidate who recognizes the crypto industry as a potential job generator and a force for U.S. global dominance.”
The Super Tuesday event is around the corner, and the 27% crypto-owning Californian adults will play a pivotal role in shaping the future of the digital currency industry.
However, on a national scale, the percentage of voters from Gen Z and Millennials likely to back candidates who are crypto-friendly is less - 51%. The potential presidential candidates from both dominant U.S. political parties - current U.S. President Joe Biden and Donald Trump - have already made their presence known in South Carolina and New Hampshire.
Data provided by Coinbase mirrors a survey conducted by the Crypto Council for Innovation in January, which suggested that American voters have a preference for lawmakers who propose comprehensible regulations for cryptocurrencies. The advocacy group also indicated that cryptocurrency users could become a significant deciding factor in the 2024 elections.
Cryptocurrency issues have already emerged on the campaign trail for the Republican Party's U.S. Presidential candidates. Prior to ending his campaign, Florida Governor Ron DeSantis expressed his opposition to central bank digital currencies (CBDCs). Trump has since taken up this issue, vowing to prohibit the digital dollar should he win a second term.
Published At
2/9/2024 11:02:51 PM
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