A survey conducted by The Nakamoto Project reveals that 4 out of 5 Americans want to convert part of the US gold reserves into Bitcoin. The proposal was presented this year, aiming to acquire 1 million bitcoins.
Today, the US has about 8,133 tons of gold, the largest reserve in the world. The amount is valued at US$ 860 billion.
In addition, ordinary investors are also more interested in Bitcoin than in gold.
Although the cryptocurrency is up 14% in 2025 and the metal shows gains of 25.2% in the same period, Bitcoin ETFs have twice the demand this year.
Americans want to convert gold reserves into Bitcoin
The Nakamoto Project survey, in partnership with Qualtrics, interviewed 3,345 Americans between February and March, questioning their interest in converting US gold reserves into Bitcoin.
Most were in favor of a partial conversion.
“4 out of 5 Americans would convert part of the US gold reserves into Bitcoin.”
According to the study, the average preference of respondents is for a conversion of 10% of gold reserves. Given that the market value of Bitcoin is 1/10 of the gold market cap, such a percentage makes perfect sense.
Another point revealed by the survey is that younger Americans, between 18 and 35 years old, believe that this proportion should be above 30%.
As seen in the image below, the average decreases with age. Proof that Bitcoin is a technology understood and adopted by new generations.
“The median recommendation for conversion to bitcoin was 10%, but the average was actually 20.3%. That sounds even more pro-bitcoin — and even more extravagant”, commented Troy Cross, co-founder of The Nakamoto Project.
Many of you are skeptical of our finding, released this morning that 4 in 5 Americans would convert some US gold reserves into bitcoin.
“Yeah right! You must have done your survey at a bitcoin conference!”
We were also surprised too. But the results are the results.
Investors are preferring Bitcoin ETFs to gold ETFs
In addition to this, Eric Balchunas, a Bloomberg ETF specialist, made two posts this week comparing the demand for Bitcoin and gold ETFs. The analyst highlighted BlackRock’s Bitcoin ETF, IBIT.
“Other highlights in the ranking: $IBIT [BlackRock’s Bitcoin ETF] rose to 6th position and now has almost DOUBLE the inflow of resources from $GLD [BlackRock’s gold ETF], which fell to 17th, despite gold having had twice the performance of bitcoin year-to-date — although that probably won’t last.”
“It’s totally unusual — usually an ETF only reaches these levels at 3 or 4 years old, at a minimum. It’s insane to see one of 15 months already up there”, added Balchunas.
In a second tweet, the analyst points out that GLD had outflows of US$ 2.6 billion in May. IBIT had inflows of US$ 3.4 billion in the same period. VOO, which replicates the S&P 500, appears with US$ 11.3 billion in inflows.
“Investors are getting rid of gold and cash, as FOMO (fear of missing out) replaces fear in the changing climate”, wrote Balchunas.
