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Americans may be leaning towards Bitcoin over gold, according to a report by Bitcoin investment firm River.
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River boiled down the U.S.’s Bitcoin leanings to access and culture.
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The U.S. leads on several other key Bitcoin metrics.
A generational shift may be occurring in how Americans preserve their wealth. In recent years, several Bitcoin proponents have dubbed the asset “digital gold,” arguing that it has the qualities to become an even better inflation and currency debasement hedge than the physical precious metal. While Bitcoin has yet to trade like a safe haven asset, Americans may be front-running the narrative, according to one recent report.
According to a report by Bitcoin investment firm River on Tuesday, more Americans now hold Bitcoin than gold. The report said that 50 million Americans hold the leading cryptocurrency compared to about 37 million who hold the precious metal, citing data from Bitcoin education-focused entity The Nakamoto Project and Gold IRA Guide.
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“America’s story began with sound money. Hard-working Americans saved their wealth in gold-backed money. Today, Bitcoin carries that torch forward,” River said, sharing the data on X.
River confirmed to Benzinga that the data on American Bitcoin ownership was based on a Q3 2024 study by The Nakamoto Project. The firm also said the findings aligned with new data from The Nakamoto Project that it was privy to. The Nakamoto Project teased a 2025 Bitcoin adoption report on Monday.
The old study surveyed 3,538 adults across several demographics, finding that most American Bitcoin owners were young males. The yet-to-be-released 2025 report surveyed 3,345 respondents, The Nakamoto Project said on Monday. A teaser from the new report suggests that four in five Americans want some U.S. gold reserves converted to Bitcoin, with younger respondents wanting as much as 30% of the reserves converted.
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This finding is significant as the Trump administration is exploring “budget-neutral” strategies to fund the U.S.’s Bitcoin reserve. Among the most popular ideas that have been floated is revaluation of the nation’s gold certificates. The U.S. holds 8,133 tons of gold that were valued at $42 per ounce in 1973. The country could theoretically unlock fresh liquidity by revaluating this stash at current rates of about $3,300 per ounce. But there are concerns that such a move could impact confidence in the dollar and the stability of the gold market.