California digital asset holders will play a big role in the future of the industry, according to US cryptocurrency exchange Coinbase.
In a new company blog post, Coinbase notes that a 2023 survey conducted by business intelligence firm Morning Consult indicates that 8.2 million California residents (27% of the state's adult population) own digital assets.
Nearly 80% of these digital asset holders say they are likely to support pro-crypto political candidates, according to a new poll conducted by research firm Toluna, which was funded by Coinbase.
exchange explanation,
“In California, 78% of cryptocurrency owners believe policymakers should support new, innovative, and disruptive technologies…
They will also support candidates who say a strong US cryptocurrency industry will help future generations get ahead and increase access to wealth-building tools that the traditional financial system does not provide for many Americans.
A Toluna survey shows that 40% of cryptocurrency owners in California are between the ages of 18 and 34. Coinbase says that younger generations in the US have a greater appetite for digital assets than older generations.
“They have grown up in the Internet age, and they are comfortable adopting innovative technologies that make their lives easier…
They want to see continued innovation so they can move their money efficiently and independently without being burdened by legacy financial institutions that defined how their parents and grandparents managed their money.
Coinbase also says that nationally, a majority of younger generations in the United States prefer candidates who support cryptocurrencies.
“Nationally, a majority (51%) of Millennials and Gen .
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