A groundbreaking D.O.G.E. investigation has catalyzed some more intense debate across multiple financial sectors after Elon Musk brought to the surface questions about the Fort Knox’s $425 billion gold stockpile verification process. The Department of Government Efficiency (D.O.G.E.) has engineered a comprehensive review to verify whether Fort Knox actually maintains its reported 4,580 tons of gold, revolutionizing traditional Treasury oversight.
Surely it’s reviewed at least every year?
— Elon Musk (@elonmusk) February 15, 2025
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How Elon Musk’s D.O.G.E. Investigation Could Impact Fort Knox’s Gold Reserves
Political Response and Bitcoin Alternative
The D.O.G.E. investigation has leveraged significant political momentum, with several key lawmakers spearheading support initiatives.
Senator Rand Paul said:
“Nope. Let’s do it”
Senator Cynthia Lummis had this to say:
“Bitcoin fixes this. A bitcoin reserve could be audited anytime 24/7 with a basic computer. It’s time to upgrade our reserves.”
Bitcoin fixes this.
A bitcoin reserve could be audited any time 24/7 with a basic computer.
It’s time to upgrade our reserves. https://t.co/ViA9FuJTg4— Senator Cynthia Lummis (@SenLummis) February 16, 2025
The BITCOIN Act Initiative
This pivotal D.O.G.E investigation comes after Senator Lummis created the groundbreaking Bitcoin Act, which aims at creating a strategic reserve formed out of 1 million Bitcoins, which would be optimizing a whopping amount of 5% of the total BTC supply. The initiative deploys secure Bitcoin vaults operated through some sophisticated Treasury protocols. This would be leveraging the existing Federal Reserve and Treasury resources.
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How States Use & Their Own Gold
Several major states have spearheaded their own cryptocurrency initiatives while Fort Knox discussions continue at the federal level. Pennsylvania, Texas, Wyoming, Arizona, and Wisconsin have engineered innovative state-based Bitcoin reserve strategies, catalyzing significant momentum for cryptocurrency adoption across various government sectors.
The Treasury has leveraged its existing 200,000 BTC holdings, primarily acquired through strategic asset seizures coordinated by US Marshals. Under the groundbreaking BITCOIN Act, these digital assets would be integrated into Treasury operations, pioneering a new era of national cryptocurrency reserves.
The Current Position of the Treasury
A pivotal inspection of Fort Knox was conducted in 2017 during Treasury Secretary Steve Mnuchin’s visit. The facility had remained sealed since 1974, when select journalists and lawmakers gained unprecedented access following widespread concerns about missing gold. The vault’s sophisticated security architecture requires multiple authorized personnel for access, presenting ongoing challenges for comprehensive verification.
Also talking about gold reserves, Senator Lummis said:
“A bitcoin reserve could be audited anytime 24/7 with a basic computer. It’s time to upgrade our reserves.”
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