Poll Indicates That 80% of Americans Support Transitioning US Gold Reserves to Bitcoin
An increasing number of individuals in the United States advocate for the government to transform a segment of its gold reserves into Bitcoin.
A recent survey indicated that 80% of participants are in favor of reallocating a portion of the nation’s gold holdings to Bitcoin.
The polling revealed that over 1,000 individuals suggested converting between 1% and 10% of the gold reserves, while more than 400 respondents supported a more aggressive idea of allocating 10% to 20% to Bitcoin.
The survey posed a clear question, asking:
“If the United States were to convert part of its gold reserves to Bitcoin, what percentage should that be?”
Benefits of Reevaluating Gold for Bitcoin Investment
The discussion about switching gold to Bitcoin emerges as the US seeks budget-neutral methods for engaging with digital assets.
Some financial analysts argue that reallocating a small percentage of the country’s gold could be a sensible approach to embracing Bitcoin without necessitating additional expenditure.
The US possesses the largest gold reserves globally, totaling 8,133 metric tons.
However, the official valuation of gold has remained static at $42 per ounce since 1973. At this outdated rate, the total reserve value is merely $11 billion.
Reevaluating according to the current market price of around $3,200 per ounce would elevate the gold’s worth to over $834 billion.
This reevaluation could potentially generate an excess of $820 billion, which could then be utilized to fund Bitcoin purchases.
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