A survey conducted by Data For Progress showed a significant portion of Americans do not support Donald Trump's proposal for a strategic Bitcoin reserve.
Republicans Show Support For Crypto
The proposed crypto strategic reserve involves using government spending to purchase and hold cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The POTUS also hinted at including XRP, Solana (SOL), and Cardano (ADA) as part of the national treasury's digital assets. According to the poll, 51% of respondents opposed the proposed reserve, while 34% supported it. Additionally, 15% were undecided. Some Republicans supported the proposal, with a margin of 41-40, while Democrats opposed it 59-29, highlighting a stark ideological divide between the parties.
Americans Ask to Decrease Crypto Funding
Apart from the opinion on the crypto strategic reserve, US voters were also asked whether the government should consider increasing, decreasing, or maintaining funding levels for nine federal government priorities. In response, 45% said it was best to decrease federal funding for digital asset and blockchain development. Should this occur, funding for crypto and blockchain would rank lowest, even below AI research and space exploration. 12% asked for an increase, 31% said it should remain the same, and 12% were indecisive. Notably, 36% of Republicans advised the federal government to decrease its funding for the rapidly growing sector.
US Senator Reintroduces Bitcoin Reserve Bill
Amidst these polls, the new head of the U.S. Historic Senate Subcommittee on crypto, Senator Cynthia Lummis, has reintroduced a bill aimed at creating the national Bitcoin reserve. The bill was first introduced in July 2024, and since then, several changes have been made to the proposal. After rebranding and adjustments, the new bill is now titled the 'Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act,' or simply the Bitcoin Act.
The poll revealed that the proposal for a strategic Bitcoin reserve lacks wide support among Americans while also highlighting a call for decreased funding in the sector.
