Bitcoin printed yet another all-time high on Monday as BTC becomes more widely held by Americans than gold, according to a new report.
Bitcoin-focused exchange River says new data shows that BTC is now “America’s emerging reserve asset,” and those living in the country own about 40% of the flagship crypto’s total supply, valued at more than $790 billion.
According to River, 49.6 million Americans now own Bitcoin, while just 36.7 million Americans own gold.
“Until 1971, gold was the primary reserve asset of the United States, backing the value of the US dollar and serving as a trusted store of value for many Americans. While gold remains an important investment asset, its role has diminished over time. Bitcoin has now surpassed gold in ownership among individual Americans.
At the national level, the US government is pulling ahead of global rivals such as China by embracing Bitcoin. Earlier this year, the White House officially designated Bitcoin as a strategic reserve asset. The federal government’s Bitcoin holdings now represent twice its global market share of gold reserves.”
Bitcoin soared past its previous all-time high of about $108,700 on Wednesday, breaking above $109,000 for the first time in its history.
BTC is trading for $109,077 at time of writing, up 3.6% in the last 24 hours.
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