Fort Knox: Elon Musk Is Reportedly Analyzing the Possibility of Replacing Gold with Bitcoin

• Musk's DOGE exploits Fort Knox audit.
• Lummis advocates replacing gold with Bitcoin.
• States lead with their Bitcoin reserves.

Elon Musk, through the Department of Government Efficiency (DOGE), is exploring a new initiative that could transform the United States' strategic reserves: verifying the authenticity of the 4.580 tons of gold alleged to be at Fort Knox and considering replacing it with Bitcoin.

The discussion gained momentum when a user on X asked Musk about the existence of the US gold reserves. Musk assured that “It’s certainly reviewed at least once a year,” referring to the regular checks that are carried out. Despite the US Treasury’s claims that Fort Knox holds gold worth $425 billion at market prices, the last visual inspection was in 2017 by Steve Mnuchin, then Treasury Secretary. The last public check before that was in 1974.

Here's what's going to happen:

1. Elon pushes Trump to audit Fort Knox.
2. Audit reveals there is less than 500 tons of gold.
3. Trump realizes China and Russia have way more gold than the US, but very little Bitcoin.
4. Trump issues EO for Strategic Bitcoin Reserve, citing… pic.twitter.com/hQrAk7vMj1

— Walker⚡️ (@WalkerAmerica) February 16, 2025

That interaction caught the attention of Senator Rand Paul, who immediately called for a full audit. “Let’s do it,” Paul said, underscoring his father Ron Paul’s persistent demand for transparency on gold reserves. “The Americans have no proof that gold even exists, which is kind of interesting, isn’t it?” he asked.

In response, Senator Cynthia Lummis proposed a revolutionary alternative: replacing gold with Bitcoin. “Bitcoin fixes that. A Bitcoin reserve can be audited 24/7 with a basic computer. It’s time to upgrade our reserves,” Lummis explained to Musk, who responded with a thoughtful emoji.

Lummis has been actively promoting the BITCOIN Act in the Senate, which aims to establish the first official reserve of Bitcoin in the US. The plan includes the acquisition of 1 million Bitcoins, representing about 5% of the total in circulation, as well as measures to legally protect the self-custody of Bitcoin by US citizens.