Senator Rand Paul has reignited the debate over the United States’ gold reserves by calling for an audit of Fort Knox. The last full audit occurred in 1974, leaving decades of uncertainty about whether the reported 147.3 million ounces (4,600 tons) of gold still exist.
His request follows a discussion initiated by Elon Musk and the libertarian financial blog ZeroHedge, questioning why these reserves have remained unchecked for so long. Previously, CNF highlighted that Musk’s inquiry into Fort Knox gold reserves has reignited doubts about whether all 4,580 tons are still intact.
Unlike gold, which requires external audits and government oversight, Bitcoin operates on a fully transparent and decentralized blockchain. This allows anyone to verify its total supply and transactions in real-time, eliminating the need for intermediaries.
Senator Cynthia Lummis reinforced this advantage, stating:
“Bitcoin fixes this. A Bitcoin reserve could be audited any time, 24/7, with a basic computer.”
With Bitcoin, there’s no need to “trust” a government report or a third-party audit—all holdings are publicly verifiable. Pierre Rochard, research head at Riot Platforms, emphasized this point:
“With gold, you have to trust the auditor. With Bitcoin, anyone can be the auditor.”
Gold’s Counterfeiting Problem vs. Bitcoin’s Immutability
Gold has a long history as a trusted store of value, but it is not immune to manipulation. Counterfeit gold bars have repeatedly surfaced in international markets, with thousands of fake gold bars reportedly going undetected.
In contrast, Bitcoin’s cryptographic structure makes counterfeiting impossible. Each Bitcoin is unique, fully traceable, and secured by decentralized nodes across the globe. Bitcoin advocate Max Keiser summed it up:
“You can’t counterfeit Bitcoin. It’s the only perfect hard-money medium of exchange humanity has ever encountered.”
A Shift Toward Digital Asset Trust
With growing concerns over financial transparency, Bitcoin is emerging as a more reliable store of value than gold. As governments face increasing pressure to prove their asset holdings, digital currencies may play an even bigger role in the future of financial trust.
As of now, Bitcoin is trading at approximately $96,102, down 0.26% in the past 24 hours and 1.78% in the past week. See the BTC price chart below.