The crypto-ready index for California was calculated using Google searches, Bitcoin ATM installations, and the number of crypto-focused bills.
According to new industry analysis from the review site Crypto Head, California has emerged as the most crypto-ready jurisdiction in the United States, thanks to the growth of cryptocurrency ATMs and increased interest in digital assets among the state’s population.
California won the crypto-ready index with a score of 5.72 out of ten, beating out New Jersey (5.44), Texas (5.28), Florida (5.03), and New York (4.29). In addition, the state’s total point total was 2.54 points greater than the national average.
The data was compiled based on crypto-related Google searches, the existence of Bitcoin and other cryptocurrency ATMs, and the number of blockchain-related bills passed in each state.
California led the nation in both the number of crypto ATMs and the number of crypto-related Google searches per 100,000. These advantages outweigh the state’s lack of crypto-related regulation.
New York, on the other hand, has approved eight crypto-related measures but ranks 33rd in terms of crypto ATM deployment. New Jersey has the most crypto-currency ATMs per 10,000 square miles and is third in terms of searches per 100,000 persons. In terms of ATMs and overall searches, Texas and Florida also fared well.
Despite regulatory uncertainties and a looming infrastructure bill that may have an impact on major areas of the blockchain economy, the United States remains a global leader in bitcoin adoption. BTC trading volumes in the United States will surpass those in Europe, Nigeria, and China combined by 2020.
Americans made $4.1 billion in realised profits on their crypto trades in the same year, significantly more than any other country. According to industry estimates, the United States also leads the world in Bitcoin ATM installations, accounting for 86.4 percent of all installations.
The success of cryptocurrency in the United States is largely due to its status as an investable asset class. As a result, other adoption measures are not nearly as important.
The United States was ranked 26th out of 27 countries in terms of cryptocurrency ownership among people by the financial comparison website Finder in August. Emerging markets that rely heavily on remittances, such as Southeast Asia and Latin America, scored significantly higher.
