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- In response to Musk’s concerns, Bitcoin advocate Michael Saylor argued that the lack of transparency with gold highlights the need for Bitcoin.
- While gold has seen impressive gains in 2025, outperforming Bitcoin, traders believe Bitcoin could soon follow gold’s lead.
Tech billionaire Elon Musk, who currently leads the Department of Government Efficiency (DOGE), recently raised concerns regarding the accessibility and auditing of the U.S. national gold reserves at Fort Knox, as mentioned in our previous article.
He suggested that there’s not enough evidence of the gold reserves with the United States while proposing that DOGE should conduct an audit to verify their status. Michael Saylor, co-founder and executive chairman of Bitcoin-focused firm Strategy (formerly MicroStrategy), weighed in on Musk’s remarks.
Saylor took this opportunity to note that the lack of transparency in Gold is the reason why they should consider switching to Bitcoin and building a strategic BTC reserve, as previously proposed by President Donald Trump.
Elon Musk Questions Fort Knox on US Gold Reserves
In several tweets on the X platform, tech billionaire Elon Musk questioned Fort Knox over the US Gold reserves. Musk noted that although gold reserves the right to be in place, an audit is important to verify the legitimacy of the data provided. Musk did not elaborate on the reasoning behind his belief, aside from responding to an X post by senior U.S. Senator Mike Lee from Utah.
Who is confirming that gold wasn’t stolen from Fort Knox?
Maybe it’s there, maybe it’s not.
That gold is owned by the American public! We want to know if it’s still there. https://t.co/aEBXK1CfD6
— Elon Musk (@elonmusk) February 17, 2025
Senator Lee mentioned that his requests to visit Fort Knox were consistently denied, citing the facility as “a military object.” Despite Lee’s argument that, as a politician, he frequently visits military sites, his request was still refused.
Michael Saylor and Industry Experts Weight In
After his tweet about Gold stoled from Fort Knox, Elon Musk published another tweet with a meme that read, “And it’s gone,” with the comment, “Looking for the gold at Fort Knox …”. Responding to this, Microstrategy executive chairman Michael Saylor said: “Bitcoin fixes this…”. Michael Saylor has been a strong proponent of Bitcoin with his firm Strategy, previously MicroStrategy, holding 478,740 BTC in its kitty. As reported earlier, Saylor has also proposed never to sell their BTC.
Bitcoin fixes this.
— Michael Saylor⚡️ (@saylor) February 17, 2025
Responding to this, Hunter Horsley, the CRO of crypto asset manager Bitwise, noted:
Bitcoin is here to improve the system, not conform to the ways of the past. This is why we’re proud that the Bitwise Bitcoin ETF ( BITB ) publishes the public wallet addresses of its holdings for investors to see (and is the only US ETP to do so). Unlike gold at Fort Knox, the Bitcoin blockchain allows investors to verify that the assets are there, any time.
Currently, Gold has given a stellar performance with more than 11% gains since the beginning of 2025. The yellow metal has given a massive 44% over the past year, giving tough competition to Bitcoin as well. While Gold has given a strong uptick in 2025 so far, BTC has underperformed a bit. Traders believe Bitcoin could follow gold’s trajectory and reach a new all-time high within the next 2-3 weeks.
