Will Auditing Fort Knox’s Gold Reserve Pump Bitcoin Price to Over $500,000?

Fort Knox gold reserve audit will likely drive Bitcoin price to over $500,000. Massive shipment of the yellow metal from London to New York?

Gold is widely regarded as “real” money and a perfect store of value for hedging against inflation. Before the Bretton Woods Agreement, every fiat currency was backed by gold and could be redeemed for gold at any time. That was then; things changed after 1971.

Now, over 50 years after the last successful audit, there are growing calls for the Department of Government Efficiency (DOGE), a task force created by the Donald Trump administration to streamline government efficiency and reduce costs, to audit gold reserves held at Fort Knox.

Audit Gold Reserves At Fort Knox

The United States government has long claimed to hold nearly 5,000 tons of gold at Fort Knox. However, after over five decades without an audit, there is ample room for speculation and even conspiracy theories about the true status of America’s gold holdings.

Concerns from whistleblowers suggest that a significant portion of the initial gold may be missing and that the true reserve could be far less than initially thought.

For this reason, many users on X want DOGE to step in and conduct a full-scale, independent audit. In reply to a post on X, Elon Musk, who heads DOGE, asked whether reviews were done yearly.

Ron Paul confirmed that audits weren’t done every year. Ron Paul has also been calling for a full audit of the Federal Reserve without success.

Interestingly, the response on X coincided with a dip in gold prices, which have been downward since President Trump won the election in November 2024.

Will Bitcoin Price Spike To $500,000?

On X, observers are convinced that a potential audit of the United States’ gold reserves could have profound implications for Bitcoin, often called the digital version of gold.

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 U.S., but very little Bitcoin.
4. Trump issues EO for Strategic Bitcoin Reserve, citing… pic.twitter.com/hQrAk7vMj1

— Walker (@WalkerAmerica) February 16, 2025

If Musk pressures the president to audit Fort Knox and the audit reveals that the government holds fewer bars than reported, the findings could trigger a financial crisis.

With this new information and the United States realizing that other world powers like China and Russia hold more gold, Trump might choose to pivot towards Bitcoin.

In that case, the crypto task force could approve the creation of a strategic Bitcoin reserve, citing national security, allowing the federal government to buy BTC to keep up.

What would happen next is that gold prices would tank while BTC prices soar as other nations follow suit. The sequence of events could easily see Bitcoin more than 5X, soaring to over $500,000.

(BTCUSDT)

Gold Drops Amid Massive Withdrawal Requests

Overall, there is no discounting the possibility of Fort Knox being audited and the United States discovering it has less gold in its reserves after 50 years.

The push for this audit comes at a time when cracks are beginning to form in gold prices. The yellow metal is down 2% from around $2,950 all-time highs printed last week.

(Gold CFDs)

Recent reports reveal that the Bank of England is facing a possible “gold run” due to fears of Trump starting a trade war.

Since November, withdrawal requests have spiked, and the central bank reportedly struggles to keep up with demands.

Observers also report that gold is being moved from London to New York as traders look to book higher profits, arbitraging at COMEX.

EXPLORE: Crypto Trends For Bullrun – January 2025

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