8,200,000 Residents in California Will Play a Major Role in Determining Future of Crypto, Says Coinbase

Top US crypto exchange Coinbase is saying that Californias digital asset holders will play a big role in the future of the industry.

In a new company blog post, Coinbase says that research shows there are 8.2 million, or 27%, of residents in California who own digital assets and a large number of them support pro-crypto policies and candidates.

Says Coinbase,

In California, 78% of crypto owners believe policymakers should be supporting new, innovative, and disruptive technologies…

They also would support candidates who say that a strong US crypto industry will help future generations get ahead and increase access to wealth-building tools that the traditional financial system does not provide to many Americans.

New polling by research firm Toluna, which was paid for by Coinbase, shows 40% of California crypto owners are aged 18-34. Coinbase says younger generations in the US have a larger appetite for digital assets than older generations.

They grew up during the internet age, and are comfortable adopting innovative technologies that make their lives easier

They want to see innovation continue so that they can move their money efficiently and autonomously without being weighed down by legacy financial institutions that defined how their parents and grandparents managed their finances.

Coinbase also says that nationally, the majority of younger generations in the US favor candidates who support cryptocurrency.

Nationally, a majority (51%) of Millenials and Gen Z adults say they are likely to support crypto-friendly candidates in 2024. These voters will make up a vocal minority in the next election, and by 2028, younger voters will represent a majority of Americas voters.

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This article was originally reported on The Daily Hodl.