Coinbase, a major U.S.-based crypto exchange, has found that Texas voters are interested in the crypto subject and presidential candidates’ postures on the issue. 21% of all Texan adults (4.7 million people) own crypto, with 74% of these owners likely to support candidates who recognize the significance of the national crypto industry.
Coinbase Reveals Texas Is a Crypto Hotbed
Coinbase, a U.S.-based cryptocurrency exchange, has revealed that Texans’ political choices could be influenced by presidential candidates’ postures on the crypto issue. According to a blog post published by the exchange, Texas is a stronghold for cryptocurrency owners, with over 21% of Texas adults (4.7 million people of voting age) owning digital assets.
In addition, crypto ownership is higher among younger citizens (39%), having mostly incomes of $75,000 or lower, who view crypto as a tool to influence the current financial system that most (85%) believe must change.
This dissatisfaction and the positive beliefs about crypto can affect the outcome and decision of Texan voters in the coming elections. Coinbase stated:
These crypto voters overwhelmingly support politicians and candidates who view crypto as crucial for the future of finance and American financial leadership.
In the Texan crypto owner community, 3 out of every 4 Texans reported that they would be inclined to back leaders who believe that the U.S. can leverage crypto to remain a leader in the global financial system. Also, 74% of these are more inclined to support candidates who “recognize the importance of nurturing a robust domestic crypto industry that can create jobs and ensure economic inclusion for future generations.”
Coinbase argued that this support from young voters has the potential to make incumbents and insurgents embrace crypto and blockchain initiatives to stay relevant in their political ambitions and better serve the interests of their constituents.
Presidential candidates have been warming up to bitcoin recently. Donald Trump has acknowledged the rising popularity of bitcoin, stating that cryptocurrencies have taken a life of their own and also that he could live with it. Kennedy Jr has also signaled his support for bitcoin, stating that if elected, he would end the current White House’s war on bitcoin.
What do you think about the Coinbase report on Texans and crypto? Tell us in the comments section below.