Overview

• Elon Musk and President Donald Trump have questioned the state of the U.S. gold reserves at Fort Knox, with Trump pledging to personally inspect the facility.
• Treasury Secretary Scott Bessent dismissed concerns, citing annual audits and confirming the gold's presence as of September 2024.
• Fort Knox holds 147.3 million troy ounces of gold, valued at $434 billion at current market prices, though the government lists it at a nominal book value of $6 billion.
• Public interest in gold reserves has surged alongside rising gold prices, which have climbed over 40% in the past year due to inflation concerns.
• Some crypto advocates argue that a Fort Knox audit could bolster the case for a national bitcoin reserve, emphasizing bitcoin's transparency and traceability.