Coinbase predicts that 8,200,000 Californians will have a significant impact on the future of cryptocurrencies


According to the leading US cryptocurrency exchange, Coinbase, California’s digital asset proprietors will have a significant impact on the industry’s future.

Coinbase notes in a new company blog post that according to a 2023 survey by the business intelligence firm Morning Consult, 8.2 million Californians (or 27 percent of the state’s adult population) possess digital assets.

Coinbase-funded research firm Toluna conducted a recent survey, which found that nearly 80% of digital asset holders would be more inclined to support pro-crypto political candidates.

Details the transaction: “78 percent of crypto proprietors in California believe that policymakers ought to support disruptive, novel, and innovative technologies…

Additionally, they would lend support to candidates who argue that the establishment of a robust cryptocurrency industry in the United States would facilitate the progress of forthcoming generations and grant greater Americans access to wealth-building instruments that are presently unavailable through the conventional financial system.

According to a Toluna survey, forty percent of California cryptocurrency proprietors are between the ages of eighteen and thirty-four. Younger generations in the United States have a greater appetite for digital assets than older generations, according to Coinbase.

“Since they came of age amid the internet boom, they have little problem embracing new technology that simplify their life…”

They desire that innovation continue so that they, like their parents and grandparents, can manage their finances efficiently and independently, unbound by the legacy financial institutions that have dominated the industry.

Additionally, according to Coinbase, the majority of newer generations in the United States support candidates who support cryptocurrencies.

“In 2024, crypto-friendly politicians are expected to get the support of 51% of adults in the millennial and Gen Z generations. Young voters will constitute the majority of the American electorate by 2028, while they will constitute a vocal minority in the upcoming election.”

Also Read: Coinbase’s new commercial claims blockchain might make pennies useful again

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