Debate Over U.S. Gold Reserves Grows as Calls for Blockchain Tracking and Audits Intensify

The idea of applying blockchain to gold reserves has gained attention, with proponents arguing it could improve oversight.

However, Greg Cipolaro of NYDIG emphasized that blockchains, unlike Bitcoin, require centralized verification, making them unsuitable for fully trustless tracking. Still, he suggested that such efforts could increase interest in digital assets and reinforce Bitcoin’s broader narrative.

Momentum for an independent audit of U.S. gold reserves has been growing, with Senator Rand Paul hinting that Elon Musk’s cost-cutting measures should include a review of Fort Knox’s holdings.

Despite regular Treasury audits, skepticism persists, partly due to long-standing conspiracy theories amplified by Trump and Musk. The last time outsiders inspected the vault was in 2017, and before that, in 1974. Officials insist that all gold is accounted for, though doubts remain.

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Critics argue that without a fully transparent and independently verified audit, uncertainty will persist. While the U.S. Mint asserts that no significant movement of gold has occurred in years, calls for greater scrutiny highlight a broader mistrust in government institutions. Whether blockchain or traditional audits are the answer, the debate over America’s gold reserves continues.

Deyan Angelov

Active crypto trader who also follows news related to stocks, the S&P 500, and gold. Deyan enjoys staying physically active, trains regularly, and practices calisthenics. He also likes reading sci-fi books when he has the time.