River report: U.S. Bitcoin holders surpass gold, reaching $49.6 million

According to a Cointelegraph report on July 22, citing data from River (a financial services company), a recent report released by The Nakamoto Project shows that about 49.6 million adults in the United States hold Bitcoin, while about 28.8 million hold gold—meaning the number of Bitcoin holders has surpassed gold for the first time.

Shift in U.S. Asset Holdings Structure: 49.6 Million Bitcoin Holders First Surpass Gold

(Source: River report)

According to the report written by River for The Nakamoto Project, the key data on U.S. adults’ asset preferences are as follows:

Bitcoin holders: about 49.6 million U.S. adults, accounting for 18.6% of the adult population

Gold holders: about 28.8 million U.S. adults, accounting for 10.8% of the adult population

Gap in the number of holders: Bitcoin holders exceed gold holders by about 20.8 million people

Background on the River report: Bitcoin’s price fell by about 10% over the past year; even so, the number of holders still surpasses gold.

River’s Observations on the Shift in Preference for Reserve Assets

According to the River report, the historical backdrop for this shift lies in the stark difference in time: gold has a store-of-value history of more than 5,000 years, while Bitcoin has existed for only 16 years—becoming a widely recognized alternative reserve asset at a speed far faster than previously expected.

The River report points out that Bitcoin may be turning into a reserve asset that more Americans prefer—despite roughly a 10% pullback in price over the past year—while the number of holders continues to grow steadily.

Worth noting is that research by institutions such as Electric Capital also shows that crypto adopters tend to hold across asset classes, and there may be some overlap between those holding Bitcoin and those holding gold.

Current Market Data for Bitcoin and Gold

Based on market data as of the report date (July 22, 2026), Bitcoin’s price is approaching $76,000 to $77,000; gold spot prices have surged to $5,300 per ounce.

FAQ

How does the number of U.S. Bitcoin holders compare with gold holders?

According to the report written by River for The Nakamoto Project (cited by Cointelegraph on July 22, 2026), about 49.6 million adults in the United States hold Bitcoin (18.6% of the adult population), about 28.8 million hold gold (10.8%), and the number of Bitcoin holders has surpassed gold for the first time.

What is the source of this data?

According to the Cointelegraph report, the data comes from a report written by River for The Nakamoto Project.

What are the current market prices of Bitcoin and gold?

According to the July 22, 2026 report, Bitcoin’s price is approaching $76,000 to $77,000, and gold spot prices have surged to $5,300 per ounce.