An estimated 48 million American adults, or 18.6% of the adult population, own Bitcoin, exceeding the roughly 37 million gold holders in the country, according to a Nakamoto Project survey released in March 2025.
The Nakamoto Project study surveyed 3,538 respondents to estimate ownership rates across the US adult population of approximately 266 million. Bitcoin ownership at 18.6% places it ahead of gold at roughly 13.9% of US adults.
The survey did not disclose the exact methodology for determining gold ownership figures or a specific date range for data collection. The gold ownership estimate aligns with analysis from River, a Bitcoin financial services firm, and the Gold IRA Guide, which tracks precious metals holdings.
Bitcoin ownership has grown through market cycles and regulatory developments. In 2021, surveys recorded roughly 14% of Americans owned Bitcoin. Between 2022 and 2023, ownership rebounded as Bitcoin recovered and institutional demand strengthened through spot exchange-traded funds, which launched in the US in January 2024.
Gold ownership in America has remained relatively stable for decades, driven by jewelry, industrial use, and investment demand. Direct physical holdings and gold-backed securities remain the primary ownership vehicle for most Americans, unlike Bitcoin, where custody options span self-held private keys, custodial services, and ETF shares.
The comparison assumes respondents accurately reported holdings when surveyed. Self-reported ownership data carries inherent limitations; actual rates may differ depending on how surveyors defined ownership, whether they included indirect holdings through ETFs, and sampling representation across income and age groups.
If Bitcoin ownership has genuinely surpassed gold among American adults, the next metric to watch is whether the gap widens as institutional adoption deepens and retail custody options continue to proliferate.
