The survey found that 60% of participants believe this conversion would strengthen economic stability. Participants think Bitcoin’s decentralized structure would reduce government control. This approach indicates declining trust in traditional monetary policies. 

Young people, in particular, are more enthusiastic about this idea. Among those aged 18-35, 75% agree that digital assets like Bitcoin will form the backbone of the financial system in the future. This age group views adding Bitcoin to state reserves as a confidence-building move. Nakamoto Project officials noted that the survey results are striking. According to them, Bitcoin is no longer just an investment tool. It is also being considered as a strategic reserve alternative. 

US: Gold or Bitcoin? The Public Makes Its Choice 

Some economic experts approach this idea cautiously. They emphasize the risks due to Bitcoin’s price volatility. However, other experts argue that digital assets gain value over time. 

The USA administration has not yet made a statement on this matter. The White House and the Treasury Department remain silent. Still, this public trend could prompt politicians to act. Another interesting finding from the survey is that 40% of participants also support the Federal Reserve issuing a digital dollar (CBDC). This shows that the public is open not only to Bitcoin but to digital currencies in general. 

Troy Cross, one of the founders of the Nakamoto Project, stated that while some people have doubts about the survey results, they are confident in their accuracy. Cross noted that only a small portion of participants suggested having 0% Bitcoin in the portfolio. The majority preferred diversification, with younger participants leaning more toward Bitcoin compared to older ones. 

“When we gave participants a slider and asked what the right balance between gold and Bitcoin should be for the America government, almost no one set the slider to 0% Bitcoin and 100% gold. Instead, most people found around 10% Bitcoin appropriate,” he explained. 

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This 5% rise reflects a central bank trend toward diversification from conventional reserve assets. Alone in Q2 2024, central banks imported 183 tons of gold—a 6% annual increase. During this time the Central Bank of Turkey, the Reserve Bank of India, and the National Bank of Poland were among the biggest purchasers.

President of the National Bank of Poland, Adam Glapinski, stated the bank intends to maintain purchasing gold until it represents twenty percent of its holdings. This mirrors a more general inclination among several countries—including China, India, Russia, and Saudi Arabia—to reduce dependence on Western reserve assets. Founded Tolou Capital Management, Spencer Hakimian claimed these nations see gold as “the only neutral and non-volatile reserve asset.”

Talks of a potential gold-backed stablecoin from BRICS countries have given the gold drive even more force. IT entrepreneur Kim Dotcom claims this kind of expansion will devaluate USD trading and undermine the currency. “When the BRICS gold-backed stablecoin comes out, trading in USD will plummet dramatically, central banks will leave USD,” Dotcom said.

With an all-time high of $2, 525 per ounce on August 27, a 23% increase year-to- date, the value of gold has surged. This tops the 18% rise in the S&P 500. Though its March all-time high dropped 22%, Bitcoin—often seen as a digital wealth store—has had a 37% increase in 2024.

Though early success for Bitcoin, consistency advocates for gold as the ideal asset. While gold is displaying consistent increase, proponent Peter Schiff said that the performance of Bitcoin has halted.

As central banks keep raising their gold holdings, their cautious approach on Bitcoin and other cryptocurrencies reflects a taste for conventional, steady assets in unpredictable times.

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