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. The endorsement came with a simple but telling message: “Bitcoin. I’m in.” This move signals growing cryptocurrency industry support for political candidates who embrace digital assets.
Calderon represents something of an anomaly within the Democratic party—a pro-cryptocurrency politician who openly advocates for Bitcoin adoption. In a political landscape where many Democrats, particularly from the progressive wing, have taken more skeptical stances toward cryptocurrencies, Calderon’s position stands out. He’s made this a central part of his campaign messaging.
Generational Approach to Finance
In his campaign advertisements, Calderon emphasizes how his generation interacts with money differently. “My generation pays bills on our phones. We send money to each other with Venmo. We save in Bitcoin,” he stated, positioning himself as a candidate who understands modern financial technologies.
Perhaps most notably, Calderon has proposed that California would hold Bitcoin on its state balance sheet if he were elected. This would mark a significant departure from current state financial practices and would follow a trend initially started by Republican-led states that have embraced cryptocurrency reserves.
Competitive Political Landscape
Calderon, who previously served as the majority leader of the California State Assembly, announced his candidacy last month. He enters what has become an increasingly crowded and unpredictable Democratic primary field.
The race has already seen significant volatility. Former U.S. Representative Katie Porter, once considered the clear frontrunner, has seen her position on betting markets decline substantially after videos surfaced showing her abruptly ending an interview and reportedly berating her staff. These incidents went viral and appear to have damaged her standing among voters.
This political turbulence creates both challenges and opportunities for Calderon. While he faces stiff competition from established Democratic figures, the shifting dynamics could potentially benefit a candidate with a distinct platform focused on technology and cryptocurrency.
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—we’re seeing candidates build entire campaign platforms around digital asset policies. Calderon’s proposal about state Bitcoin reserves is particularly bold, though I wonder about the practical implementation challenges.
The endorsement from Adam Draper carries weight in tech circles, but it remains to be seen how much influence it will have with the broader California electorate. Still, it’s another sign that cryptocurrency is moving from niche interest to mainstream political consideration.
