Survey: Over Half of Americans Trade Gold or Stocks to Buy Bitcoin

The findings, part of a study conducted by GameFi platform ChainPlay and Storible, highlight a significant shift in investment strategies as digital assets gain wider acceptance.

The survey found that 68% of Americans now own some form of cryptocurrency, with 77% expressing plans to increase their crypto holdings in 2025. Among these investors, 60% believe that the value of their digital assets will double within the year. Bitcoin, often referred to as “digital gold” due to its scarcity and deflationary nature, appears to be a top choice for many.

A glimpse into the key findings of the Chainplay survey report. Source: ChainPlay

This rising interest in Bitcoin reflects its transformation from a niche investment to a mainstream financial asset. More institutional interest has legitimized its status, with major firms like BlackRock launching Bitcoin ETFs that now outweigh gold ETFs in net assets. Also, high-profile endorsements of the market come from President-elect Donald Trump and Federal Reserve Chairman Jerome Powell.

The survey also provided some interesting demographic trends: Half of all crypto investors are baby boomers; almost 30% are millennials; and the remainder are from Generation Z. This basically means that Bitcoin is appealing to several generations and breaks the common stereotype that associates cryptocurrencies with younger investors.

Demographic insights on crypto investors. Source: ChainPlay

However, the exclusion of Generation X from the survey findings throws questions at the method and representation. Other reports earlier have indicated that, as of late 2024, only 13% of Americans had ownership in cryptocurrencies; this shows the disparities in cryptocurrency ownership statistics.

One of the most striking revelations from the study is the willingness of investors to part with traditional assets like gold and stocks to buy Bitcoin. More than half of the participants responded that they were drawn by Bitcoin’s long-term growth and its emerging hedge against economic uncertainty. Meanwhile, 38% named the 2024 U.S. presidential election—a race that had a pro-crypto candidate come out on top—as influential in their decision to invest in Bitcoin, 84% of whom were first-time buyers.

Crypto ownership trends in the U.S. Source: ChainPlay

The ease of storing and sending bitcoin, as opposed to gold, combined with the limited supply creates a form of gold that is more inviting for some investors. Mark Cuban and Michael Saylor are two outspoken Bitcoin proponents who make sure to mention its portability and autonomy. Saylor once said that in the modern world, it may well oust gold as the go-to store of value.

Despite the optimism, financial experts urge caution. Bitcoin’s high volatility and shorter market history make it a riskier investment compared to traditional assets. While its price has seen significant gains over the years, sharp downturns have also occurred. Diversification remains a fundamental principle of investing, and over-concentration in Bitcoin or any single asset class can expose investors to significant risks.

The trend of Americans reallocating investments from gold and stocks to Bitcoin underscores the growing acceptance of digital assets. However, it’s essential for investors to approach this shift with a balanced perspective. Assessing risk tolerance, diversifying portfolios, and seeking professional financial advice are crucial steps in navigating the dynamic landscape of cryptocurrency investments.