Inflationary fears are reshaping the asset allocation strategies of American cryptocurrency investors at an unprecedented pace. A survey released on May 1, 2026, by leading global crypto exchange and Web3 technology company OKX reveals that 90% of surveyed US crypto traders are concerned that the US dollar will significantly lose purchasing power over the next five years. Among them, 45% selected 'extremely concerned,' making anxiety over the dollar the most common response in the study.
Key Findings: Anxiety and Action
Commissioned by OKX and conducted among 1,000 active US cryptocurrency traders, the survey aimed to understand how inflation expectations influence digital asset allocations. The results show that 90% of respondents fear a decline in the dollar's purchasing power. By generation, Millennials exhibited the highest level of extreme concern at 49%, followed by Gen Z at 44%, Gen X at 39%, and Baby Boomers at 32%. Younger generations are notably more worried about dollar depreciation.
This concern has directly translated into trading behavior. Nearly half (49%) of respondents reported increasing their cryptocurrency holdings over the past six months due to inflation worries. More than a quarter (27%) did so within the last month alone. Additionally, 40% of traders said they have shifted more than 10% of their portfolio into crypto, with 15% transferring over 20%. These figures indicate that digital assets are moving from the fringe to become a core component of mainstream portfolios.
Bitcoin: 'Digital Gold' Gains Traction
In terms of wealth preservation, Bitcoin's status continues to strengthen. 47% of respondents primarily view Bitcoin as a store of value, compared to only 16% who disagree. Among those who see Bitcoin as a store of value, 33% said their conviction has grown stronger since the beginning of 2026. However, gold remains the most trusted store of value asset overall, chosen by 32% of respondents, with Bitcoin in second place at 26%.
Generational differences are again pronounced: Among Gen Z traders, Bitcoin leads gold with 28% support versus 21%, making it the preferred store of value for the youngest cohort. This highlights a shift toward digital-native assets among younger investors. OKX noted in its report: 'Looking at the long-term outlook, 73% of respondents said they expect cryptocurrencies to play a greater role in the global financial system in ten years.' Only 3% of respondents believe cryptocurrencies are just a passing fad, demonstrating strong confidence in the asset class's future.
Macro Context: The Dollar's Safe-Haven Status Under Pressure
The survey results come amid growing macro uncertainty. Economist Robin J. Brooks has pointed out that escalating pressure in global debt markets is eroding confidence in the dollar, with accelerating bond turmoil and capital flight signaling a dangerous inflection point for currencies and safe-haven assets. In this environment, US crypto traders' inclination to increase digital asset holdings as a hedge against dollar depreciation appears increasingly rational. While the OKX survey is directional and limited to active crypto participants rather than the broader US adult population, the trend it reveals—inflation expectations driving crypto allocations—merits close attention from market participants.