A recent survey indicates that 58.1% of respondents perceive Bitcoin as digital gold, eclipsing Satoshi Nakamoto’s original vision of Bitcoin as a peer-to-peer cash system. Bitcoin’s ideological landscape is undergoing a transformation. Survey revealing that a notable segment of the crypto community perceives Bitcoin more as digital gold than as a means for peer-to-peer transactions. The survey, conducted between August 22 and September 11, 2025, revealed that 58.1% of participants believe Bitcoin serves as a digital store of value.
The idea of Bitcoin being likened to digital gold has been a dominant narrative since its creation, fueled by its limited supply and the hard cap of 21 million coins. This narrative has gained traction over the years, supported by Bitcoin’s price growth and the Lindy effect, which indicates that the longer a technology persists, the more probable it is to endure. The restricted programming capabilities of Bitcoin further bolster its reputation as a reliable store of value. In contrast, a mere 14.9% of survey respondents continue to follow Satoshi Nakamoto’s original vision for Bitcoin as a peer-to-peer cash system. Satoshi’s whitepaper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” established the foundation for Bitcoin’s role as a medium of exchange. However, this vision has been clouded by the rise of more straightforward interpretations and competing blockchain-based payment solutions.
Another 17.1% of participants see Bitcoin as a wager on the wider cryptocurrency and blockchain sector, positioning it as the second most favored narrative. Moreover, 9.9% of those surveyed view Bitcoin as a speculative high-risk asset, underscoring a segment that expects considerable price fluctuations. The prevailing investor sentiment highlights the supremacy of the digital gold narrative. Among investors, a notable 64.4% support this ideology, in contrast to 47.9% of traders and 45.6% of builders. Traders, however, tend to view Bitcoin as a speculative asset, highlighting their short-term focus on price fluctuations. The survey gathered insights from 2,549 participants in the crypto space. Among the respondents, 68% classified themselves as investors, 20% as traders, 7% as builders, and 5% as spectators.
The largest share came from Europe at 31%, followed by Asia with 26%, and North America at 22%. In the crypto landscape, participants showcased a diverse range of experiences: 38% were navigating their first cycle (0 to 3 years), 41% were in their second cycle (4 to 7 years), and 21% were seasoned veterans with over 8 years in the field. This study offers a glimpse into the prevailing ideological trends within the Bitcoin community, but it is important to note that it should not be interpreted as financial advice.