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 endorsement. Draper’s simple statement “Bitcoin. I’m in.” signals his backing for the pro-cryptocurrency Democrat.
Calderon represents something of an anomaly within his party, particularly when you look at the progressive wing that’s often been more skeptical of digital assets. He’s making his crypto stance a central part of his campaign message.
A Different Kind of Democrat
In his campaign advertisements, Calderon has been clear about his position. “My generation pays bills on our phones. We send money to each other with Venmo. We save in Bitcoin,” he stated, directly appealing to younger voters who are more comfortable with digital finance.
What’s particularly interesting is Calderon’s previous announcement that California would hold Bitcoin on its state balance sheet. This would put the traditionally blue state in line with the trend started by several red states that have been more openly embracing cryptocurrency adoption at the government level.
Competitive Political Landscape
Calderon, who previously served as the majority leader of the California State Assembly, only announced his candidacy last month. He’s entering what’s shaping up to be a crowded and unpredictable Democratic primary field.
The race has already seen some unexpected developments. Former U.S. Representative Katie Porter, who was considered the clear frontrunner, has seen her position weaken significantly on betting markets. This shift came after videos surfaced showing her abruptly ending an interview and what appeared to be harsh treatment of her staff.
This creates an opening for candidates like Calderon, though he’ll still face significant competition from other established Democratic figures. The endorsement from Draper, a well-known figure in the tech and venture capital world, could help Calderon stand out in a field where cryptocurrency policy isn’t typically a central issue.
It’s worth noting that California’s approach to cryptocurrency regulation has been somewhat cautious compared to other states, so having a governor who’s openly supportive could signal a shift in the state’s position. Whether this becomes a winning issue in a state with complex economic and social priorities remains to be seen.
The timing of Draper’s endorsement might also reflect growing recognition that cryptocurrency policy is becoming more mainstream in political discussions, even in traditionally Democratic strongholds where the technology has sometimes faced more skepticism from regulators and policymakers.
