Most people who read about cryptocurrencies know that Bitcoin, due to its characteristics, is often referred to as ‘digital gold.’ A new study reveals that more and more people in the U.S. prefer Bitcoin to gold.
The GameFi platform ChainPlay conducted a joint survey with Storible. In their study, they asked 1,428 Americans about cryptocurrencies and investments in their lives.
According to the report, over 68% of Americans now own some crypto. 77% consider increasing their crypto investment in 2025. 60% of crypto investors believe the value of their assets will double in 2025.
The survey shows that 50% of crypto owners are boomers, while nearly 30% are millennials, and the rest are Gen Z. The report authors conclude that crypto owners get younger. However, it is not clear what digits were used as a reference point. The total lack of Gen X representatives in this report raises questions. Now that’s the real lost generation!
Unfortunately, the report doesn’t specify what the groups of respondents were and how ChainPlay and Storible chose who to survey.
According to other sources, only 13% of Americans owned crypto as of November 2024. It seems that the number heavily depends on the methodology.
New crypto investment stats
A survey revealed that Trump’s victory made a serious impact on people’s perception of cryptocurrencies, with 38% of respondents deciding to invest in crypto following the election outcome.
A huge amount of these people, 84%, are first-time buyers who decided to try fortunes in crypto after the win of the pro-crypto candidate.
Now, it’s time to talk more closely about the BTC investment insights found in the report. There are three main points. First, 51% of Americans allocate over 30% of their assets in meme coins. That’s an interesting statistic proving that a booming meme token market is no joke.
The second point notes that one-fifth of Americans allocate over 30% of their investment in crypto. And, finally, third–nearly 52% of responders admitted they were selling gold or stocks to invest in Bitcoin.
The latter revelation illustrates the tectonic shift in people’s minds. Over half of all respondents believe now that Bitcoin is here to stay, and it is safer and probably more profitable than gold or stocks.
The preference for Bitcoin over gold or stocks was still a marginal mindset during the 2017 bull run. Nowadays, when various governments across the globe announce they will mine or stock bitcoins or use it for international payments, people look at Bitcoin without prejudice.
On top of that, the stats mean that these people not only decided to buy some BTC, but they have made an additional step of dumping their traditional assets to invest in BTC first. According to the survey, over 51% of such people are in America. It shows the unprecedented bullishness of digital gold.
Bitcoin and gold
The “digital gold” name has its grounds, of course. Bitcoin bears certain similarities with gold. Both assets are scarce and deflationary. There will not be more gold or more Bitcoin in the future. The amount of both assets is finite and isn’t likely to increase. You have probably heard about the preset Bitcoin mining reward shrinks in two once every four years (so-called halving). The gold mining is decreasing too, however, the speed at which the gold mining drops is far behind Bitcoin’s increasing scarcity.
Experts speculate whether humanity reached the “gold peak” point (a moment after which gold mining will be constantly dropping). In the Bitcoin case, the Bitcoin peak was in the first years, and then, production has always gone down, making Bitcoin scarcer than gold. When gold mining drops by a couple of percent, Bitcoin may drop by 50%.
More than that, after every coin is mined, Bitcoin may be going to the moon, and the gold diggers may literally start mining gold on the moon, increasing the total supply available for the Earth’s markets. While gold gets increasingly scarce due to its use in devices, jewelry, and other products, bitcoins get lost or blocked forever. The speed at which bitcoins get stuck has been so high that in 16 years of Bitcoin’s existence, around 20% of all units are considered lost.
⚡️MARK CUBAN: “#Bitcoin – it became a store of value, it’s marketed that way and has been marketed for the last 15 years or whatever it is and it’s gotten to a point of acceptance just like gold.” pic.twitter.com/w3h2fjEnps
— Cointelegraph (@Cointelegraph) January 4, 2025
According to businessman and TV personality Mark Cuban, Bitcoin became a store of value and reached an acceptance level comparable to gold. Both he and MicroStrategy’s frontman Michael Saylor point out that in contrast to gold, Bitcoin is easy to transport and generally control.
Saylor once offered a thought experiment in which we should imagine trying to bring a substantial amount of gold or cash to the plane. The airport officers will treat owners as thieves. The same happens if we try to send a large amount of money abroad via a wire transfer. Saylor notes that, unlike traditional assets, Bitcoin provides owners with autonomy and control over their funds.
Michael Saylor on Gold vs Fiat vs #Bitcoin pic.twitter.com/9UNtVe0M8x
— Vivek⚡️ (@Vivek4real_) January 16, 2025
In another instance, Saylor noted that the gold era ended in the 16th century when other means of payment became more popular. However, Cuban’s estimation, in which he rather puts Bitcoin in line with gold, seems to be less maximalist as people still invest in gold while it’s obvious that it is Bitcoin, not gold, that is going through the blooming phase. The possible downside of Bitcoin is its higher volatility and shorter market history. However, as of 2025, its ups have always been more prominent than downs.
