- California has around 22 million crypto holders out of 82 million people, and 78% support pro-crypto policies, so they could shape key races in the 2024 elections.
- Nationally, 51% of younger voters say they would support crypto-friendly candidates, so presidential hopefuls are clarifying their stances.
- Most crypto users want clear regulations rather than the current unpredictable approach, to encourage responsible innovation in the space.
The 2024 election season is underway, and a new voting bloc is emerging in California – crypto owners. According to Coinbase, the majority of Californians who own cryptocurrencies support pro-crypto policies and candidates. With many open seats in Congress, these voters could shape key races across the state.
Crypto Ownership in California
California is home to around 82 million people, approximately 27% of whom own cryptocurrency. This comes out to around 22 million crypto holders in the state. Additionally, 78% of Californian crypto owners say policymakers should favor new and innovative technologies. With many open congressional seats in 2024, these pro-crypto voters will likely play a meaningful role.
National Crypto Voter Trends
Nationally, the data shows similar trends. 51% of younger voters across the U.S. say they would likely support a crypto-friendly candidate. As presidential candidates like Biden and Trump campaign in early primary states, their stances on digital assets are being closely watched by crypto proponents.
The Need for Clear Crypto Rules
Many voters prefer lawmakers who aim to provide clear regulations for cryptocurrencies. The unpredictability of the current “regulation by enforcement” approach is a top concern. Most crypto users want proactive rules in place that encourage innovation in the space.
With growing crypto ownership across California, digital assets are poised to be a key issue in the upcoming 2024 election. Candidates at all levels would be wise to clarify their positions on cryptocurrency regulations and foster a climate that enables responsible crypto innovation. The voting power of crypto holders could swing races at both the state and national level.