Bitcoin has overtaken gold as the preferred store of value among Americans for the first time, according to a report by River, a US financial services firm focused on Bitcoin. The firm estimates that 49.6 million Americans, or 18.6% of the population, own Bitcoin, compared with 28.8 million Americans, or 10.8%, who hold gold.

River published the report, titled "America is the global Bitcoin superpower", in early July 2026, coinciding with the 250th anniversary of US independence. The report said Bitcoin ownership among US adults rose from 14.3% in early 2026 to 18.6% by mid-2026. Americans also hold roughly 42% of the world's circulating Bitcoin supply, according to River, highlighting the concentration of adoption in the United States.

Gold has served as a traditional store of value for thousands of years, while Bitcoin is far newer. The Bitcoin network launched in January 2009 and has existed for just over 16 years. The approval of spot Bitcoin exchange-traded funds by the US Securities and Exchange Commission in January 2024 — including funds from BlackRock and Fidelity — opened a regulated pathway for investors to gain Bitcoin exposure through conventional brokerage accounts, broadening access beyond cryptocurrency exchanges.

Bitcoin ownership surpasses gold within six months

Bitcoin's lead over gold is not merely a static comparison. River said the ownership rate among US adults rose from 14.3% to 18.6% in roughly six months, outpacing the trajectory for the precious metal.

The firm attributed the acceleration to two factors. First, exchanges and mobile apps have lowered barriers to entry, making Bitcoin easier to access. The availability of spot ETFs further simplified participation by allowing investment through standard brokerage accounts. Second, River pointed to a cultural inclination among Americans toward individual investing, which can favor the purchase of single assets. Together, the report said, these drivers help explain why the Bitcoin ownership curve has climbed more steeply since the start of the year.

The contrast in time horizons remains significant. Gold has been used as a store of value for roughly 5,000 years, while Bitcoin has existed for just over 16 years. Even so, River's data shows the digital asset has moved ahead of gold in private ownership among Americans.

An earlier River report from May 2025 initially estimated gold ownership at 36.7 million Americans. The current figure of 28.8 million does not indicate an actual decline, according to the article, but reflects a methodological recalculation of the underlying data. Bitcoin ownership, by contrast, remained broadly stable in scale: the 2025 report cited roughly 50 million holders, while the new survey shows 49.6 million.

As a result, the ratio has shifted mainly because Bitcoin ownership continued to rise while the gold estimate was revised downward. For River, the development marks Bitcoin's transition into a broad asset class rather than one appealing only to a niche audience.

US companies hold most listed corporate Bitcoin reserves

US dominance is not limited to retail investors. US-listed companies together hold 1.24 million BTC, equal to 92.7% of all Bitcoin held on the balance sheets of listed firms worldwide, according to River. The concentration underscores the extent to which corporate adoption is centered in the United States.

Over the past 12 months, US firms acquired an additional 510,000 BTC. River said that amount is more than three times the Bitcoin newly mined over the same period. The Bitcoin protocol's issuance schedule halves roughly every four years, with the most recent halving in April 2024 reducing the block subsidy from 6.25 to 3.125 BTC. The article said this means the market is absorbing considerably more supply than the network produces, adding to the structural scarcity built into the protocol.

Compared with the prior year, the picture has shifted slightly. River's earlier report showed US companies accounting for 94.8% of a combined 733,000 BTC held by listed firms. Since then, the absolute amount has increased, while the relative US share has declined slightly. The decrease points to growing international corporate demand.

Strategy, formerly MicroStrategy, remains the largest known corporate holder with roughly 569,000 BTC. According to earlier River data, US mining companies follow with roughly 96,000 BTC, while other firms hold roughly 68,000 BTC.

US government is the largest state Bitcoin holder

The US government also ranks among the largest Bitcoin holders. It manages 328,372 BTC, mostly from seizures. The government did not acquire this Bitcoin on the market, but confiscated it. River originally valued the holdings at more than USD 23 billion, while the current amount corresponds to roughly USD 21.6 billion. Washington therefore holds nearly three times as much Bitcoin as all other governments worldwide combined.

The question of a formal reserve is already part of the political debate. Legislative proposals for a strategic Bitcoin reserve are before the US Congress. These proposals aim at the accumulation of up to 1 million BTC, but have not been passed so far. If approved, such legislation would convert the existing holdings from an incidental position into a strategic instrument. El Salvador, which adopted Bitcoin as legal tender in 2021, remains the only country to have formally incorporated Bitcoin into its national financial system, though at a vastly smaller scale than what US lawmakers are considering.

According to the think tank Stand with Crypto, a cross-party majority of politicians in Washington is favorably disposed toward Bitcoin. Public polling cited in the article also showed support for the idea. In an earlier survey, four out of five Americans favored a partial conversion of US gold reserves into Bitcoin. Younger respondents favored a conversion of up to 30%.

The shift from gold to Bitcoin is therefore appearing not only in private ownership. It is also shaping the political discussion around state reserves.

Mining hashrate and company concentration reinforce US position

The US leadership role also rests on physical infrastructure. River said 37.5% of the global Bitcoin hashrate runs in the United States, more than the next five countries combined. That share means a large portion of transaction validation takes place on US soil.

Company density is also significant. More than 150 Bitcoin firms are headquartered in the United States. Among them are more than 50 mining sites with power draw above 10 megawatts each. These sites concentrate a substantial part of the world's computing capacity in a small number of US states.

This infrastructure makes adoption harder to reverse than ownership rates alone, which can shift with market cycles. River framed the development in cultural terms, stating: "It is no coincidence that the country founded on individual rights and free markets is also where Bitcoin adoption is strongest."

Overall, River's data depicts Bitcoin as an asset class that has become established across the United States, spanning private portfolios, corporate balance sheets, and the state treasury.