- A recent survey revealed that 4 out of 5 Americans want a portion of the US gold reserve sold to buy Bitcoin for perfect diversification.
- The report also suggests that the majority of the respondents want to use between 1% and 30% of the gold reserve for this exercise.
Troy Cross, co-founder of the Nakamoto Project, disclosed in a recent survey that Americans are becoming more interested in crypto. The majority of the population favours diversifying gold reserves with Bitcoin.
According to the report, 4 out of 5 Americans would prefer to convert some gold reserves to Bitcoin. The majority of the respondents want between 1% and 30% of the gold reserve to be converted.
People were also asked whether they approve of the US strategic crypto reserve earlier hinted at by the US president, Donald Trump. Fascinatingly, 66% of the respondents were reportedly neutral to positive. As detailed in our previous news article, Trump hinted that ADA, XRP, SOL, and ETH could be included in the reserve.
According to Cross, the survey results came as a surprise to several crypto enthusiasts, with some asking if the respondents were picked from a Bitcoin conference.
Many of you are sceptical of our finding, released this morning,, that 4 in 5 Americans would convert some US gold reserves into bitcoin…We were also surprised. But the results are the results.
Also, Cross highlighted how their previous survey was met with scepticism after it reported that Bitcoiners were all over the US political map.
Many other surveys have since vindicated what we found: in politics and in many other ways, American bitcoiners look much like America itself. We are confident that our results this year will also hold up in future polling.
More About the Bitcoin Survey
Shedding more light on the exercise, the co-founder hinted that the respondents were recruited in partnership with a survey and data collection company, Qualtrics. According to him, the survey was conducted online, and the participants were paid as well. For accurate results, there was no unexpected high rate of Bitcoin ownership or high rate of Bitcoin santiment in the sample.
The median Bitcoin conversion recommendation rate was also reported to be 10%. However, the mean was around 20.3%. The survey was open at the end of February, while the data collection ended in the middle of March.
While these findings underscore the growing adoption of the asset class in the US, they also mark a huge shift from a survey conducted by the Pew Research Centre last year. According to that report, six out of ten (63%) Americans had little to no confidence that investing in crypto is safe. Fascinating, 72% of the respondents who had little to no confidence in the reliability and safety of the asset class appeared to be adults aged 50 years and above.
On the idea of converting gold to Bitcoin, a Standard Chartered analyst recently hinted that the US may sell gold to buy BTC for its strategic reserve, as noted in our earlier discussion. Similarly, asset management firm VanEck has suggested that the US should revalue its gold reserve to raise extra money to fund its Bitcoin reserve, as also discussed earlier.
Amidst that backdrop, Bitcoin has surged by 2% in the last 24 hours to trade at $105k.
According to our recent analysis, the asset could hit a new all-time high soon. Also, another analyst has predicted that Bitcoin could hit $200k, as recently explored by CNF.
