A recent survey by Data for Progress found that only about 10% of US voters want the Trump administration to increase federal funding for cryptocurrency and blockchain development. However, a White House fact sheet clarifies that the strategic reserve will be funded exclusively with bitcoin seized through criminal or civil asset forfeiture, requiring no taxpayer contributions.
U.S. Bitcoin Strategic Reserve Funding Controversy
According to Data for Progress, a left-of-center public opinion research group, few U.S. voters—about 10% of survey respondents—want the Trump administration to increase federal funding for cryptocurrency and blockchain development. Instead, many prefer the U.S. government to spend more on Social Security (65%), Medicare (64%), transportation infrastructure, and other priorities.
The findings follow U.S. President Donald Trump’s signing of an executive order (EO) to establish a crypto strategic reserve. As reported by Bitcoin.com News, the EO, signed by Trump on March 6, paves the way for the U.S. to create a strategic bitcoin reserve and a digital asset stockpile.
A White House fact sheet explaining the order said the strategic reserve would be capitalized with bitcoin forfeited as part of criminal or civil asset forfeiture proceedings. Clarification that seized bitcoin ( BTC) would be used to constitute the strategic reserve helped to allay fears that the Trump administration planned to use taxpayers’ money to buy BTC and other crypto assets for the reserve.
Interestingly, during polling conducted between March 8 and 10, the 1,169 participants in the Data for Progress survey were asked specifically about their views on increasing federal funding for areas ranging from Social Security to cryptocurrency.
According to the survey study, 45% of participants said they wanted federal spending on cryptocurrency and blockchain development decreased. About 29% preferred funding to remain at current levels, while 17% said they did not know. Survey participants who are described as likely voters were also less enthusiastic about federal funding for artificial intelligence (AI) research and development, with only 20% supporting an increase.
While the findings suggest voters are not keen on cryptocurrency, which Trump and the Republicans embraced in the run-up to the 2024 U.S. elections, they indicate voters are more supportive of programs often championed by the Democratic Party. For example, Social Security, Medicare, Medicaid, and public education—all championed by Democrats—received approval ratings of 52% or higher.
Meanwhile, on the topic of establishing a strategic reserve, the data shows that just over 51% of participants oppose it. When broken down by party lines, the survey found that 59% of Democrats and 56% of Independents oppose establishing a strategic reserve, compared to 40% of Republicans. Conversely, 29% of Democrats and 30% of Independents support the reserve, while 41% of Republicans approve of the Trump administration’s strategic reserve plan.
Concluding the survey findings, Data for Progress, which is fiscally sponsored by Tides Advocacy, a 501(c)(4) nonprofit known for supporting progressive causes, stated:
These findings demonstrate that voters want the U.S. government to spend less on cryptocurrency and do not support establishing a crypto strategic reserve.
Source: Bitcoin
