Elon Musk Sparks Debate Over U.S. Gold Reserves – Is Fort Knox Still Full?

A new controversy has begun over the U.S.’s biggest gold reserves, and it all started with Elon Musk Elon Musk   Elon Musk is a tech expert, Entrepreneur and the person behind Tesla, SpaceX, and X. He is hailed as one of the leading influencers of crypto. His tweets, especially for Bitcoin (BTC) and Dogecoin (DOGE), can move the crypto market upside-down.   Recently, Musk flipped an idea of integrating crypto payments with X. This move will futher facilitate crypto payments and make the X a 'Super App'.   He often participates in crypto debates and wants to educate investors about blockchain technology and the benefits of DeFi. He also supports Trump's crypto prospectives and wants a clear policy for the same.   Quick Facts   Full name Elon Reeve Musk Birth 28-07-1971, Pretoria, South Africa Nationality American, South African, Canadian Education BA, BS from the University of Pennsylvania Known for Entrepreneur, Crypto Influencer   Elon Musk - Career Highlights & Events   2020 – Tesla gained interest and backed Bitcoin   2021 – Elon Musk’s Tesla purchases $1.5B worth of Bitcoin. Accepts it as a payment method   2022 – Boosts Dogecoin (DOGE) as its integration is tested in Tesla's commodities assets   2023 – Announced crypto payment attributes for X   2024 – Advocated for crypto-based financial infrastructure at global occasions.   NAsales@teslamotors.com EntrepreneurInvestorChief Executive Officer . The billionaire’s curiosity about the legendary Fort Knox vault has brought back old questions: Is all the U.S. gold really there? Now, politicians are joining the debate, and many are demanding a closer look.

Musk Questions Fort Knox Gold

The conversation started when Zerohedge tagged Musk on X, suggesting he should verify the Fort Knox gold reserves, as no one has properly checked them since 1974. 

Musk, surprised by the claim, responded:

“Surely it’s reviewed at least every year?”

Zerohedge quickly replied:

“It should be. It isn’t.”

This short exchange sparked widespread speculation. Many questioned why the reserves haven’t been fully audited in decades, leading to theories that some of the gold might have been sold or is no longer there.

No independent audit of Fort Knox has been recorded in recent memory. If the vault still holds the reported 4,580 tons of gold, it would be worth about $425 billion at today’s prices.

Senator Rand Paul Calls for an Audit

Musk’s discussion caught the attention of U.S. Senator Rand Paul, who wasted no time in supporting a formal review. “Nope. Let’s do it,” Paul commented, referring to the lack of inspections. 

This stance is not new for the Paul family—his father, former Congressman Ron Paul, has long demanded more transparency regarding the U.S. gold reserves, questioning whether the vault is truly as full as claimed.

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The Bitcoin Alternative?

As the debate over gold reserves continues, U.S. Senator Cynthia Lummis has proposed a radical alternative, Bitcoin. A known Bitcoin advocate, Lummis argues that a Bitcoin reserve would provide full transparency, as blockchain technology allows anyone to verify holdings at any time.

Lummis has already introduced the BITCOIN Act, which outlines a plan for the U.S. to acquire 1 million BTC, making up 5% of Bitcoin’s total supply. The proposal includes secure Bitcoin vaults under the U.S. Treasury, with funding drawn from existing resources to avoid taxpayer expenses.

With growing calls for an audit, pressure is mounting on officials to confirm whether Fort Knox still holds its gold.