Survey shows low public support for US crypto strategic reserve

A recent survey by Data for Progress revealed that only about 10% of U.S. voters support increasing federal funding for cryptocurrency and blockchain development.

This low level of support contrasts with President Trump's executive order establishing a Strategic Bitcoin Reserve, which will be funded using Bitcoin (CRYPTO:BTC) seized through criminal and civil asset forfeitures, eliminating the need for taxpayer contributions.

The survey highlights that voters prioritise spending on traditional programs like Social Security and Medicare, with 65% and 64% supporting increased funding for these areas, respectively.

In contrast, 45% of participants favored reducing federal spending on cryptocurrency and blockchain.

The establishment of the Strategic Bitcoin Reserve marks a significant shift in U.S. policy, positioning Bitcoin alongside traditional strategic reserves such as gold.

However, the decision has sparked controversy, with concerns about potential conflicts of interest and regulatory implications.

Senator Elizabeth Warren has emphasised the need for transparency and financial disclosures, particularly regarding David Sacks, the appointed Crypto Czar, who has faced scrutiny over his past crypto holdings and potential conflicts of interest.

The upcoming White House crypto summit is expected to provide further clarity on the administration's crypto policies, which may influence public perception and market dynamics.

As noted by analysts, the reliance on seized Bitcoin for the reserve introduces unpredictability and raises questions about the strategic benefits for the nation.

The survey findings indicate that voters are skeptical about the strategic reserve, with over 51% opposing its establishment.

This opposition is more pronounced among Democrats and Independents, reflecting broader concerns about government involvement in cryptocurrencies.