Doubts about US gold reserves grow, tokenization options increase, check here more details
Fort Knox gold reserves in Kentucky have not been audited in more than 50 years, raising growing doubts about their status and fueling interest in tokenizing commodities as an alternative to ensure transparency and security.
 |
| Doubts about US gold reserves grow, tokenization options increase, check here more details |
Tokenization of real-world assets (RWAs) has reached an all-time high in 2025, driven by rising institutional demand for dollar-denominated financial products. As technological barriers decline, commodities that require continuous verification, such as gold, are increasingly likely to find a place on the blockchain, according to Michele Crivelli, founder and COO of digital asset issuer NexBridge.
In an interview with Cointelegraph, Crivelli explained that US Treasury bonds have been the main target for tokenization due to the stability and transparency they offer. “There is a strong demand for dollar-denominated instruments, both to combat inflation and to preserve purchasing power in countries with limited access to this currency,” he stated.
For every $1 increase in the gold price, the total value of the U.S. gold reserves increases by $261.5 million!
— TheGladiator (@TheGladiatorHC) February 12, 2025
Must be the US driving up the gold price, as if they put a floor under the price when revaluing their holdings, they're going to want it as high as possible pic.twitter.com/niCyU6CRwC
However, Crivelli believes that tokenization will not stop at Treasury bonds and that gold and other commodities will be the next natural candidates. “Beyond US Treasuries, gold and other commodities are ideal for tokenization, thanks to their potential to reduce correlation with traditional markets,” he explained.
Concerns grow over US gold reserves
The topic of transparency around the U.S. gold reserves has gained greater prominence recently, especially after the Elon Musk-led Department of Government Efficiency (DOGE) announced its interest in reducing wasteful spending and improving oversight of federal agencies. Musk has proposed using blockchain technology to track federal spending, an idea backed by Coinbase CEO Brian Armstrong.
Concerns about the gold at Fort Knox resurfaced when Zerohedge recalled that the last audit was conducted more than half a century ago. Musk reacted on social media by asking: “Surely it is reviewed at least every year?” Following this, US Senator Rand Paul has requested that DOGE investigate the status of the approximately 4,600 tons of gold stored at Fort Knox.
For Crivelli, blockchain technology could put an end to this uncertainty. “Tokenizing bullion on the blockchain can increase the security and transparency of gold reserves, allowing for continuous verification of their ownership,” he said.
Meanwhile, on prediction platform Polymarket, users estimate the probability of DOGE auditing Fort Knox reserves before May of this year at 50%.
