A Bitcoin Policy Institute study conducted with Cygnal and Neighborhood Bitcoin found that Bitcoin’s traditional “digital gold” and “inflation hedge” narratives performed poorly with a broad U.S. audience. The research covered 1,516 Americans through eight in-person focus groups in Ohio and Tennessee and a national message-effectiveness test involving 1,000 people. Researchers classified 52% of respondents as a “persuadable middle,” including those interested but undecided at 32% and people distanced by financial stress at 20%. Messages stressing personal control, the ability to start with $10, Bitcoin’s four-year returns and access through companies such as Fidelity and Charles Schwab performed better. After respondents viewed 19 messages, those saying they were not interested at all fell from 39% to 32%, while those very or extremely interested rose from 19% to 24%, a roughly 12-point net shift toward interest. Personal financial advisers, retirement-planning experts and Bitcoin-owning friends or family were the most trusted messengers, while celebrities and influencers ranked among the least trusted. The study suggests that explaining how people can hold Bitcoin in small amounts may be more effective than presenting it as a tool for transforming the financial system, but it does not show that the messages lead to purchases.