A new survey by the Nakamoto Project, a non-profit Bitcoin education and advocacy group, indicates a significant appetite among Americans for converting a portion of the nation’s gold reserves into Bitcoin. The survey found that a striking four out of five respondents believe the U.S. should convert some of its gold into the digital asset.
The survey, which polled 3,345 Americans between February and mid-March, asked participants to advise on the percentage of U.S. gold reserves they would recommend converting to Bitcoin. The majority of respondents suggested a conversion rate of between 1% and 30%.
“We were surprised too,” admitted Troy Cross, co-founder of the Nakamoto Project, addressing initial skepticism that only Bitcoin enthusiasts were surveyed. “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.”
Dennis Porter, co-founder of the Satoshi Action Fund, initially doubted the findings but offered an explanation: “Americans just don’t care about gold that much, and most people are inclined towards diversification when given the choice.”
To ensure representativeness, the online survey, conducted by Qualtrics, was meticulously designed to match the U.S. Census distribution across age, gender, race, income, education, and geography.
The study also touched upon political sentiment, revealing that approximately 66% of respondents held a neutral-to-positive view regarding Donald Trump’s strategic Bitcoin reserve.
The United States currently boasts the world’s largest gold reserves, holding 8,133 tons valued at over $830 billion. In comparison, the U.S. also holds an estimated 207,189 BTC, worth approximately $22 billion – less than 3% of its gold reserves, according to BiTBO. This disparity, experts suggest, leaves ample room for diversification.
The idea of leveraging gold reserves for Bitcoin acquisition has gained traction in political circles. White House adviser Bo Hines has proposed a strategy where the Treasury could utilize profits from gold reserves to purchase Bitcoin, potentially acquiring up to 1 million BTC over five years. Hines referenced Senator Lummis’ Bitcoin Act of 2025 in March, stating, “If we actually realize the gains on these [gold certificate holdings], that would be a budget-neutral way to acquire more Bitcoin.”
