- California is the best state for cryptocurrency investors
- Nevada and New Hampshire rank second and third, respectively
A new study revealed the best state for cryptocurrency investors, and California came out on top.
DollarGeek’s personal finance experts analyzed a number of factors related to the availability and popularity of cryptocurrency in each state, including the number of cryptocurrency ATMs, cryptocurrency-friendly businesses, searches and cryptocurrency job listings.
Q3 2022 hedge fund letters, conferences and more
This Clean Energy Hedge Fund posted solid returns in 2022 and uses Amazon as a precedent
Electron Capital returned 3.1% for the month of October, bringing its annual return to 8.3%. The MSCI ACWI gained 6% for the month of October, bringing its year-to-date return to -22.3%, while the S&P 500 returned 8% in October, losing 18.8% year-to-date. The MSCI World Utilities Index rose 2.7% for October, but remains down 13.5% Read more.
Best States for Cryptocurrency Investors
It found California to be the best state for crypto investors, with the best balance of bitcoin ATMs, crypto-friendly businesses, crypto jobs and crypto interests of any state. It has about 9.44 bitcoin ATMs per 100,000 people, 44.84 cryptocurrency businesses per 100,000 people, and 189.41 cryptocurrency job postings per 100,000 people.
California has the most searches for cryptocurrency of any state in the census, indicating a strong interest in cryptocurrency in the state.
The western state ranked second in the study, Nevada, with a score of 96.65 out of 100. The state has about 12.13 bitcoin ATMs per 100,000 people and 92.04 crypto-friendly businesses per 100,000 people.
There is also a lot of interest in cryptocurrency with an average search score of 96.5 out of 100. A total of 97.34 cryptocurrency job postings for every 100,000 cryptocurrencies shows significant employment opportunities for cryptocurrency enthusiasts as well.
In third place comes New Hampshire, which scored 92.69 out of 100 points for cryptocurrency. It has the highest cryptocurrency-friendly business share on the list with 200.78 friendly businesses per 100,000. Despite having the lowest total searches for cryptocurrency at 65 out of 100, the state balances this with a high amount of bitcoin ATMs, at 11.43 per 100,000 people.
|#||state||Bitcoin ATMs per 100,000 people||Number of crypto-friendly businesses per 100,000 businesses||Crypto job postings with 100,000 listings||Average crypto search score||Crypto Account /100|
Florida ranks fourth with a crypto score of 79.04 out of 100 points. The state has the fourth highest number of bitcoin ATMs with 14.79 per 100,000 people. There is also strong interest in cryptocurrency in the state, with a search score of 85 out of 100. There are also 52.67 cryptocurrency job postings per 100,000 total postings.
Rounding out the top five is Utah with a cryptocurrency score of 78.33 out of 100. The state has the third highest number of cryptocurrency job postings at 154 per 100,000 total listings. The province also has a fairly strong interest in cryptocurrency, with a search score of 75, followed by 42.56 crypto-friendly businesses per 100,000 businesses.
Commenting on the findings, a DollarGeek spokesperson said: “As interest in cryptocurrencies continues to grow, so will the number of businesses looking to integrate cryptocurrency into their operations by accepting payments or offering cryptocurrency-related services. This data shows that some states are more involved in the cryptocurrency world than others and will therefore be more attractive to people investing heavily in the industry.”