Venture Capitalist Backs Crypto-Friendly Candidate
Prominent venture capitalist Adam Draper has thrown his support behind California gubernatorial candidate Ian Calderon in a recent social media post. Draper’s endorsement came with a simple but telling message: “Bitcoin. I’m in.” This backing from a well-known figure in the tech and crypto investment space could potentially boost Calderon’s campaign among younger, tech-savvy voters.
Calderon represents what some might call an unusual breed of Democrat when it comes to cryptocurrency policy. While many prominent Democrats, particularly from the progressive wing, have expressed skepticism or outright opposition to cryptocurrencies, Calderon has positioned himself as a pro-crypto candidate from the start.
A Different Kind of Democrat
In his campaign advertising, Calderon has made his crypto-friendly stance a central theme. “My generation pays bills on our phones. We send money to each other with Venmo. We save in Bitcoin,” he stated in one of his campaign ads. This messaging seems designed to appeal to younger voters who are more comfortable with digital financial tools and alternative assets.
What’s particularly interesting is Calderon’s previous announcement that California would hold Bitcoin on its balance sheet if he were elected. This would put California in the company of several red states that have already taken similar positions, making it potentially the largest and most influential blue state to embrace cryptocurrency at the governmental level.
Competitive Political Landscape
Calderon, who previously served as the majority leader of the California State Assembly, announced his candidacy just last month. He’s entering what appears to be a crowded and competitive field of Democratic candidates. The race has already seen some unexpected twists and turns that could reshape the political landscape.
Former U.S. Representative Katie Porter, who was widely considered the frontrunner in the race, has seen her position weaken significantly after videos surfaced showing her abruptly ending an interview and berating her staff. These incidents went viral and appear to have damaged her standing in betting markets and potentially with voters.
This creates an opening for candidates like Calderon, who might appeal to voters looking for alternatives. His pro-crypto stance could help him stand out in a crowded field, particularly if he can mobilize younger voters and tech industry supporters. Still, winning the Democratic nomination in California is no small feat, and Calderon will need to build broad support beyond just the crypto community.
I think what’s interesting here is how cryptocurrency is becoming a legitimate political issue in state-level races. It’s no longer just about federal regulation or national policy. Candidates are now taking positions on crypto that could directly affect how states manage their finances and approach economic development. Calderon’s campaign might be an early indicator of how this issue will play out in future elections, particularly in tech-heavy states like California.
