As head of the Department of Government Efficiency, Elon Musk has turned his attention to scrutinizing U.S. institutions, with Fort Knox becoming his latest target. In a recent post on X, Musk suggested a live video walkthrough of the highly secure gold reserve, fueling speculation and reigniting long-standing conspiracy theories about missing gold.
Senator Mike Lee added to the controversy, revealing that despite his position, he had been denied access to Fort Knox multiple times without clear justification. Musk responded by asserting that the American public, as the rightful owners of the gold, should be able to confirm its presence.
Fort Knox’s History of Secrecy
Fort Knox houses approximately 147 million troy ounces of gold, making it the largest gold reserve in the U.S. However, its extreme secrecy has long fueled speculation. Critics argue that the inability to publicly verify the gold’s presence raises concerns about transparency and accountability.
While the U.S. government releases monthly reports detailing gold reserves, skeptics demand concrete evidence. Notably, Fort Knox’s last public audit occurred in 1974, when journalists and congressmen were briefly granted access. Prior to that, the only other major audit took place in 1943.
During the Trump administration in 2017, then-Treasury Secretary Steven Mnuchin visited Fort Knox alongside Kentucky officials. However, the visit was private, with no media present. The event faced criticism, especially as it coincided with a total solar eclipse, leading to accusations that the trip was more about sightseeing than transparency.
Bitcoin vs. Gold: The Transparency Debate
Amid renewed scrutiny of Fort Knox, Bitcoin proponents have drawn comparisons between gold and the digital asset. Unlike gold, Bitcoin’s ownership and supply are easily verifiable on the blockchain. Many argue that Bitcoin’s transparency makes it a superior store of value.
Crypto analyst Gautam Chhugani of Bernstein speculates that if the U.S. establishes a Strategic Bitcoin Reserve, it may need to sell gold to fund Bitcoin acquisitions. Meanwhile, Musk’s concerns have caught the attention of Donald Trump, who hinted at a potential inspection of Fort Knox if elected.
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As the debate continues, calls for greater transparency at Fort Knox grow louder, challenging the long-standing secrecy surrounding America’s gold reserves.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
