In a recent blog post, Coinbase highlighted the growing influence of young voters, particularly those supportive of digital assets, in U.S. presidential elections. The company emphasized that Gen Z and millennial voters played a key role in the 2020 election and are poised to be decisive again in 2024. According to Coinbase, this demographic already constitutes 40% of all eligible voters and is on track to become the majority by 2028.
These younger voters tend to prioritize candidates who champion innovation and policies that could modernize outdated systems, particularly in relation to cryptocurrency. As a result, candidates aiming to secure victory in the upcoming election, especially in battleground states that could determine the outcome, need to pay attention to this group.
In 2020, voter turnout among those under 30 surged to 55%, a notable increase from the 44% turnout in 2016. The trend appears to be continuing, with 92% of registered voters under 35 indicating they are likely to vote in November 2024. Beyond their numbers, these voters have a distinct outlook compared to previous generations. Only 19% of millennials and a mere 9% of Gen Z adults believe the American Dream is attainable, reflecting a broader disillusionment with the current system.
