The crypto exchange cited data suggesting that roughly 8.2 million people in California owned digital assets, the majority of which were more likely to support pro-crypto lawmakers.
United States-based cryptocurrency exchange Coinbase predicted crypto-focused voters in California would play a “meaningful role” in the 2024 elections based on ownership and opinions of digital asset-related policies.
In a Feb. 9 blog post, Coinbase cited data from business intelligence firm Morning Consult, which suggested that 27% of Californians — roughly 8.2 million people — owned cryptocurrency. The majority of crypto holders in the U.S. state — 78% — say policymakers should favor “new, innovative, and disruptive technologies,” and many would vote for those that do.
“California crypto owners overwhelmingly report that they would be much more likely to support candidates that hold pro-crypto and blockchain positions,” said Coinbase. ”Almost 4 in 5 CA crypto owners say they would be more likely to support a candidate who supports the U.S. crypto industry as a job creator and source of U.S. geopolitical strength.”
