California Voters Show Strong Support for Crypto: Coinbase

Published: Feb 9, 2024
Written By:
Vignesh Karunanidhi
Milk Road Writer

New polling reveals strong backing for crypto assets and blockchain technology among California voters, especially younger demographics hungry for financial system reform.

On behalf of Coinbase, the research firm Toluna conducted a survey of cryptocurrency owners in the state. Additionally, it shows that the younger generation in the state wants policymakers to encourage innovation to create more jobs.

Key Findings:

  • 27% of California adults own cryptocurrencies.
  • 40% of CA cryptocurrency owners are aged 18–34.
  • 86% agree the global financial system needs changing.
  • 83% see crypto/blockchain as an economic tool.
  • 79% say cryptocurrencies can increase opportunities.

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With over 8 million residents invested in the asset class, the report shows Californians view digital currencies as integral to improving their financial futures.

8 in 10 respondents of Coinbase survey believes in encouraging crypto

Nearly 8 in 10 respondents believe legislators should actively encourage the development of new technologies like cryptocurrency and blockchain.

Over three-quarters see crypto as a net benefit to society and the economy by increasing access and inclusion compared to the traditional system.

The rise in support for technological innovation suggests candidates’ stances on issues like crypto regulation will resonate in the ballot box.

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80% of surveyed crypto owners say they would be more likely to back politicians who embrace cryptocurrency and blockchain to stimulate job growth and American leadership.

Ultimately, California’s pro-crypto electorate views digital assets as a crucial pathway to wealth creation and closing economic divides. Additionally, over 80% believe supportive cryptocurrency and blockchain policies can provide future generations with tools to get ahead.

According to the report, “nationally, a majority (51%) of Millennials and Gen Z adults say they are likely to support crypto-friendly candidates in 2024.”

Vignesh Karunanidhi
Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 5 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.