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The US gold reserve audit sparked controversy, and the crypto community supported the value of Bitcoin reserves

2025-02-17 14:17

Odaily News U.S. Senator Rand Paul called on the Department of Government Efficiency (DOGE), led by Musk, to audit the gold reserves at Fort Knox to verify whether it actually stores 147.3 million ounces (4,600 tons) of gold from the U.S. Treasury, sparking a debate about the transparency and financial trust of cryptocurrencies compared to traditional assets. Pierre Rochard, head of research at Riot, said: "Gold requires trust in the auditor, while Bitcoin allows anyone to be an auditor." Bitcoin cannot be counterfeited, but gold is not. Although the United States has the world's largest gold reserves, fake gold bars have occurred frequently in recent years. In contrast, Bitcoin cannot be counterfeited, the total amount is constant at 21 million, and its smallest unit "satoshi" can be tracked on the chain. (Cointelegraph)