The Majority of Americans Support Diversifying Some Portion of US Gold Reserves into Bitcoin

As part of its 2025 Bitcoin Adoption and Sentiment Study, The Nakamoto Project—in partnership with Qualtrics—surveyed 3,345 Americans about their views on a hypothetical U.S. policy: converting a portion of the nation’s gold reserves into Bitcoin.

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The result was surprising: 4 in 5 Americans recommended converting at least some gold into Bitcoin.

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The survey prompt read as follows:

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“Assuming the United States was thinking of converting some of their gold reserve into Bitcoin, what percentage would you advise they convert?”

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Respondents were provided a slider used to choose a percentage between 0% to 100%.

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Survey findings indicate the following points.

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• 80% selected converting some portion of U.S. gold reserves to bitcoin.

• The median recommended conversion was 10% and the mean was 20%.

• The middle 50% of the sample wanted to convert between1% and 30% of gold to bitcoin.

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To us, this signals a significant public openness toward Bitcoin’s role in national economic strategy.

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Policy Relevance

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Converting gold into bitcoin is fundamentally revenue-neutral. Such a policy could comply with the current executive order's mandate to explore responsible digital asset innovation without introducing new costs or legislative spending.

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Public support for such diversification—especially among younger voters—highlights the growing gap between a younger generation comfortable with bitcoin and a legacy paradigm.

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Sample

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The survey was fielded between February 28 and March 17, 2025. Participants were recruited online through Qualtrics and selected to match U.S. Census benchmarks across age, gender, race, income, education, and region.

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Demographic comparisons and repeated attitudinal measures from the Nakamoto Project’s 2024 and 2025 datasets, as well as agreement with other surveys, support the reliability of the sample. 

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Age, Gender, and Race

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Support for gold-to-Bitcoin diversification was particularly strong among younger Americans, echoing trends we observed in 2024. Allocation preferences decreased steadily with age. Similarly, men were more likely than women to recommend larger conversions, though older men were also the most likely to recommend retaining 100% gold. Notably:

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• The median conversion amount for respondents under 45 years old was 24%. 

• The median conversion amount for respondents 45 and older was 7%.

• The median conversion for non-whites was 5% higher than for whites.

• The median conversion for men was 2% higher than for women.

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More to Come

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This data point is only one part of a much larger study. The full 2025 Adoption and Sentiment Report from The Nakamoto Project will be released soon.

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Until then, policymakers and the public alike would do well to take this signal seriously: Americans are open to bitcoin. And increasingly, they want it to play a role in their country’s financial future.