Trump and Musk Push for Fort Knox Gold Audit in Transparency Effort

The proposed audit, supported by crypto advocates, aims to confirm the U.S. gold reserves and could reignite debates on reserve assets like Bitcoin.

President Trump and Elon Musk, head of the Department of Government Efficiency (DOGE), are advocating for a new audit of Fort Knox gold reserves, last fully inspected in 1974.
The U.S. Bullion Depository at Fort Knox reportedly holds 147.3 million ounces of gold, valued at a government-set price of $42.22 per ounce, though market rates are significantly higher.
Crypto proponents argue that discrepancies in the gold reserves could strengthen the case for Bitcoin as a transparent and auditable reserve asset.
Treasury Secretary Scott Bessent has assured the public that the gold is accounted for, but some lawmakers and Musk are calling for a livestreamed inspection to address transparency concerns.
The discussion has sparked broader conversations about diversifying national reserves beyond traditional assets like gold, with Bitcoin emerging as a potential alternative.