A nationwide survey by the Nakamoto Project reveals that four out of five Americans favor converting some U.S. gold reserves into Bitcoin, with most recommending between 1% and 30% conversion.
What to Know:
- Survey of 3,345 respondents shows strong public support for Bitcoin diversification
- Younger respondents favor higher Bitcoin allocation compared to older participants
- The U.S. currently holds over $830 billion in gold reserves but only about $22 billion in Bitcoin
Public Opinion Shifts Toward Crypto Diversification
A new survey indicates widespread American support for diversifying the nation's gold reserves with Bitcoin. The Nakamoto Project, a nonprofit Bitcoin education and advocacy organization, surveyed 3,345 people about potential gold-to-Bitcoin conversion rates for U.S. reserves.
When asked what percentage of U.S. gold reserves should be converted to Bitcoin, the majority of respondents recommended allocations between 1% and 30%. The survey presented participants with a slider tool to indicate their preferred conversion rate.
"We were also surprised too. But the results are the results," said Troy Cross, co-founder of the Nakamoto Project. "When given a slider and asked to advise the U.S. government on the right proportion of Bitcoin and gold, subjects were very reluctant to put that slider on 0% Bitcoin and 100% gold. Instead, they settled around 10% Bitcoin."
The study, conducted online between February and mid-March, used paid participants.
Cross noted that the survey company Qualtrics was instructed to match U.S. Census distribution across demographic factors including age, gender, race, income, education, and geographic location.
Age Correlation and Political Context
The survey revealed a significant correlation between age and recommended Bitcoin allocation. Younger respondents generally favored higher percentages of Bitcoin reserves compared to older participants. This aligns with previous Nakamoto Project findings showing an inverse relationship between age and Bitcoin ownership.
Initial skepticism about the survey's results came from various sources, including Dennis Porter, co-founder of Satoshi Action Fund. Porter eventually acknowledged the findings, stating: "Americans just don't care about gold that much, and most people are inclined towards diversification when given the choice."
The research also found approximately 66% of respondents expressed neutral-to-positive views regarding former President Donald Trump's strategic Bitcoin reserve plans. This indicates potential bipartisan support for national cryptocurrency investments.
Cross addressed skepticism on social media, where critics suggested the survey targeted Bitcoin enthusiasts rather than representing broader public opinion. "Many of you are skeptical of our finding, released this morning that 4 in 5 Americans would convert some US gold reserves into bitcoin," he wrote on X (formerly Twitter).
Current Reserves and Future Possibilities
The United States currently maintains the world's largest gold reserves, holding 8,133 tons valued at more than $830 billion at current market prices. In contrast, the federal government holds approximately 207,189 Bitcoin worth around $22 billion—less than 3% of its gold reserves—according to data from BiTBO.
This substantial disparity between gold and Bitcoin holdings suggests significant room for diversification as recommended by survey participants. Several government officials have already proposed strategies for increasing federal Bitcoin reserves.
White House adviser Bo Hines recently suggested that the Treasury consider purchasing Bitcoin using profits from its gold reserves. This proposal could potentially lead to acquiring up to 1 million Bitcoin over a five-year period. Hines referenced Senator Lummis' Bitcoin Act of 2025, stating in March, "If we actually realize the gains on these [gold certificate holdings], that would be a budget-neutral way to acquire more Bitcoin."
The concept has gained traction among other administration officials as well. Health Secretary Robert F. Kennedy Jr. proposed matching the country's gold reserves with Bitcoin holdings in July.
Closing Thoughts
The Nakamoto Project's survey reveals unexpectedly strong public support for diversifying U.S. gold reserves with Bitcoin. With Americans increasingly open to cryptocurrency as a national asset and government officials proposing various acquisition strategies, the question seems to be shifting from whether to diversify to how much Bitcoin the federal government should hold.