Bitcoin
‘Game On For Bitcoin!’ Musk’s DOGE Questions Gold Reserves

In a weekend exchange on X, Elon Musk was nudged to extend his cost-cutting Department of Government Efficiency (DOGE) to one of the most heavily guarded sites in the United States: Fort Knox, the US Army installation famously said to hold 4,580 tons of gold. The discussion, which drew in voices ranging from the Bitcoin community to sitting lawmakers, has reignited decades-old questions about the transparency and actual contents of America’s gold vault.
Musk Sparks The Conversation
It all began when financial news aggregator Zerohedge (@zerohedge) tagged Musk, suggesting, “It would be great if @elonmusk could take a look inside Fort Knox just to make sure the 4,580 tons of US gold is there. Last time anyone looked was 50 years ago in 1974.”
The tweet, viewed by 1.9 million users and liked over 59,000 times, prompted Musk to ask: “Surely it’s reviewed at least every year?” Zerohedge promptly replied: “It should be. It isn’t.”
From there, the online community swelled with reactions, speculation, and suggestions. Questions about the last comprehensive audit of the Fort Knox depository have resurfaced, along with persistent rumors that the stash has been sold off or otherwise depleted.
Not long after, Sen. Rand Paul (R-Ky.), 62, joined the conversation with a succinct endorsement of a formal inspection, remarking: “Nope. Let’s do it,” in response to Musk’s musings. Paul’s father, former Rep. Ron Paul (R-Texas), has a long history of calling for greater transparency around the United States’ gold reserves. Back in the 1970s, Ron Paul famously raised concerns that the gold might not be as secure—or as plentiful—as long believed.
The most recent known visits to Fort Knox appear to be in 1974, when journalists and members of Congress were permitted to step inside, and 2017, when the facility briefly opened its doors to former Treasury Secretary Steve Mnuchin. Even so, there is no publicly available record of a full, comprehensive audit in recent decades, fueling conspiracy theories that the gold may not be in Fort Knox at all.
Estimates suggest that if the vault does indeed hold 4,580 tons of gold, it would be worth approximately $425 billion at current market rates.
Implications For Bitcoin
The spark of skepticism around Fort Knox’s holdings quickly fed into a larger conversation about Bitcoin’s verifiability. Nate Geraci, President of the ETF Store and Co-Founder of the ETF Institute, remarked how BTC could eliminate doubts over ownership. “If only there were a technological solution that would allow anyone to independently verify ownership of an asset,” Geraci said, adding, “Btw, if for whatever reason Ft Knox doesn’t actually have the gold… It’s absolutely game on for btc. IMO, the gold is there. But at least now everyone might fully appreciate real-time & foolproof verification of asset ownership.”
Others echoed that sentiment. Dennis Porter, CEO and founder of Satoshi Act Fund, emphasized Bitcoin’s around-the-clock transparency: “Another reason why states (and the federal government) should prefer Bitcoin instead of gold. The public can audit government-bitcoin-holdings 24/7/365. The last extensive audit of our gold reserves happened… over 70 years ago.”
Meanwhile, US Senator Cynthia Lummis, a longtime Bitcoin advocate who serves as the Senate Banking Subcommittee Chair on Digital Assets under US President Donald Trump, underscored the necessity for a modernized approach: “Bitcoin fixes this. A bitcoin reserve could be audited any time 24/7 with a basic computer. It’s time to upgrade our reserves.”
Some took the scenario to imaginative extremes, predicting potential outcomes if a Fort Knox audit revealed significantly less gold than is officially reported. Walker, host of THE Bitcoin Podcast, posted a detailed hypothetical chain of events, beginning with an Elon Musk-inspired audit, followed by a discovery that Fort Knox holds “less than 500 tons of gold.”
From there, he speculated an executive order might be issued by Trump to form a Strategic Bitcoin Reserve, triggering international competition for Bitcoin while undermining gold’s market standing. By the end of Walker’s sweeping scenario, “China and Russia realize Trump got the jump on them and start trying to acquire Bitcoin,” leading to a collapse in gold’s value relative to Bitcoin—while vocal gold proponent Peter Schiff becomes, as Walker put it, “admitted to a mental hospital.”
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
Eric Balchunas, a Bloomberg ETF analyst, responded to Walker’s bold prophecy with measured skepticism, asking: “What a prediction. What % chance would you give of this actually happening?”
Whether these audits come to fruition remains unclear. As of this writing, there has been no official confirmation from the US Treasury or the Department of Defense to open Fort Knox for a comprehensive public review. Still, a Fort Knox audit could have massive implications for the gold price and also potentially for the digital gold, Bitcoin.
At press time, BTC traded at $96,383.

Featured image created with DALL.E, chart from TradingView.com
Bitcoin
Strategic Bitcoin Reserve Proposed by Brazil’s VP Advisor


Brazil’s Vice President Geraldo Alckmin’s (PSB) chief of staff, Pedro Giocondo Guerra, underscored on Wednesday the importance of establishing a national strategic Bitcoin reserve. Guerra was speaking at the swearing-in ceremony of the new president of the FPBC (Parliamentary Front for Competitive Brazil), Deputy Júlio Lopes (PP-RJ), while representing the government of President Luiz Inácio Lula da Silva (PT).
“Rigorously debating the constitution of a sovereign reserve of bitcoin value is in the public interest and will be decisive for our prosperity. After all, Bitcoin is digital gold, the gold of the internet. It’s a technology that allows us to transmit wealth from one end of the planet to the other quickly and store the fruits of our labor efficiently and securely,” Guerra stated.
Will Brazil Get A Strategic Bitcoin Reserve?
His remarks highlighted Bitcoin’s intrinsic appeal—particularly its digital scarcity and deflationary design, in contrast to fiat currencies that can be printed at will. Guerra noted that an official BTC reserve might bolster the country’s resilience and adaptability, especially amid global economic and geopolitical fluctuations.
Notably, Congressman Eros Biondini (PL-MG) has introduced PL 4501/2024, which would permit the creation of a Sovereign Strategic Reserve of Bitcoins—referred to in the bill as RESBit. According to Biondini, the primary goal is to guard Brazil against currency fluctuations and geopolitical uncertainties by diversifying the government’s international reserves.
The text proposes a limit of 5% of the country’s international reserves—which totaled $366 billion in December—for Bitcoin acquisitions. Should it pass, Brazil would be authorized to invest as much as $18.3 billion in Bitcoin, based on the reserve’s valuation at the time the bill was drafted.
Currently under review by Rapporteur Luiz Gastão (PSD-CE) in the Lower House’s Economic Development Committee, the bill sets forth guidelines for gradual acquisition and emphasizes robust security measures, using cold wallets and advanced AI- and blockchain-based monitoring.
The legislation details how the Central Bank and the Ministry of Finance would jointly manage RESBit, ensuring transparency through regular biannual reports to both the public and Congress. In addition, the text addresses the need for educational and innovation programs, including specialized courses on blockchain, crypto-economics, and cybersecurity, as well as incentives like tax benefits for crypto-related startups.
Related Reading: Trump Endorses Pro-Bitcoin Senator Lummis: ‘Make US The Crypto Capital’
A technical advisory committee composed of experts in blockchain, digital economy, and cybersecurity would also be established to ensure rigorous oversight and to foster collaboration with international regulators and research institutions. The proposal cites global precedents, such as El Salvador’s adoption of Bitcoin as legal tender, the United States’ approval of BTC ETFs, China’s investment in blockchain and digital currency efforts, Dubai’s success in developing a blockchain-friendly business environment, and the EU’s regulatory framework for digital assets.
In its justification section, the bill argues that Brazil is already one of the countries with the highest rate of cryptocurrency adoption, yet government policy has not kept pace with the rapid evolution of this market.
According to the text, “The creation of RESBit will allow Brazil to diversify its international reserves, reducing exposure to foreign exchange fluctuations and geopolitical risks while increasing economic resilience. This measure will also position Brazil as a regional leader in financial and technological innovation, attracting external investment and strengthening our presence in the digital economy.”
At press time, BTC traded at $86,205.

Featured image created with DALL.E, chart from TradingView.com

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Bitcoin
Bitcoin Bet Grows Bigger: The Blockchain Group Snaps Up 580 BTC


The Blockchain Group, a France-based blockchain solutions firm, recently announced its largest Bitcoin (BTC) purchase to date, acquiring 580 BTC. This marks the company’s third BTC acquisition since it began buying the digital asset in November 2024.
The Blockchain Group Buys 580 Bitcoin
In its most significant BTC acquisition so far, The Blockchain Group has purchased 580 BTC for approximately $50.64 million at an average price of $88,020 per coin. According to the announcement, the purchase was made through its Luxembourg-based subsidiary.
Notably, the acquisition was financed through proceeds raised from a convertible bond issuance announced on March 6. The move aligns with the firm’s Bitcoin Treasury strategy.
To recall, The Blockchain Group made its first BTC purchase in November 2024, acquiring 15 BTC at an average cost of $68,785 per coin. Its second purchase followed in December 2024, when it bought 25 BTC at an average price of roughly $97,692.
Following its latest acquisition, the company’s total BTC holdings now stand at 620 BTC, with a total net asset value of slightly over $54 million at current market prices.
According to data from Yahoo! Finance, The Blockchain Group’s stock (ALTBG.PA) closed today’s trading session at €0.4975 ($0.54), up 3.09% on the day. On a year-to-date basis, the company’s shares have surged by an impressive 65.78%, suggesting that its exposure to BTC has positively impacted its valuation.

The Blockchain Group’s official website states that its pivot to Bitcoin is part of a broader strategy to optimize the use of its excess cash and financial instruments. Since its first BTC acquisition, the company’s stock has risen by 225%.
Corporate BTC Adoption To Grow In 2025
Corporate adoption of Bitcoin is expected to pick up even further in 2025, driven not only by the digital asset’s intrinsic value but also by a favorable regulatory environment under pro-crypto US President Donald Trump’s administration.
Earlier this week, the largest corporate holder of Bitcoin, Strategy, acquired an additional 6,911 coins, pushing its total holdings beyond 500,000 BTC. In the same vein, US-based financial services firm Fold Holdings announced the addition of 475 BTC to its corporate treasury earlier this month.
As corporate adoption grows, several US states have also begun legislative processes to add BTC to their treasuries. For instance, Utah and Kentucky have recently made significant strides with their BTC reserve bills.
Additionally, Mexican billionaire Ricardo Salinas recently revealed that close to 70% of his investment portfolio is allocated to Bitcoin and related assets. At press time, BTC trades at $86,838, down 1.1% in the last 24 hours.

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Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Bitcoin
Will Bitcoin’s Rally Continue or Just Be a Temporary Surge?

Bitcoin (BTC) has shown signs of a relief rally this week, offering a glimmer of hope to investors after the recent market downturn.
Despite this brief uptick, analysts are warning that the upward momentum may not last long.
Will Bitcoin’s Rally Last?
According to data from BeInCrypto, Bitcoin’s price has recovered by 2.0% over the past week. The gains have more than doubled over the fortnight, with the coin appreciating by 5.0%. At the time of writing, the largest cryptocurrency traded at $87,381, representing a slight 0.1% dip over the past day.

Spot Bitcoin exchange-traded funds (ETFs) have also seen inflows for nine consecutive days, according to data from SoSo Value. Since last Friday, the ETFs have collectively attracted $944 million in inflows.
This sustained interest suggests growing confidence among institutional investors. Yet, analysts are unconvinced of the rally’s potential.
In its latest Cryptocurrency Compass newsletter, research firm Fairlead Strategies predicted that Bitcoin’s relief rally could persist for another one to two weeks. However, founder Katie Stockton warned that a price drop may follow.
“Intermediate-term momentum is to downside, and the weekly stochastics are not yet oversold, increasing risk that the rebound is fleeting. We expect the same for most risk assets,” she wrote.
Despite the bearish outlook, Stockton acknowledged short-term positives. Bitcoin’s near-term momentum has improved, and the price still has room to rise before hitting overbought territory. Nonetheless, she cautioned that this window may close by month’s end.
This could potentially trigger a phase of consolidation—or “digestion.” This means that Bitcoin’s upward momentum might slow down or pause for a longer period as the market adjusts and absorbs the recent gains.
Another analyst also shared a cautious outlook. In a recent post on X (formerly Twitter), Koroush AK estimated Bitcoin’s potential price movements using a liquidation heatmap.
He noted that there’s significant selling pressure around $89,000 (major supply) and buying interest around $85,000 (demand).
“The idea of a HTF dead cat bounce is still valid if price reverts at the highs around the ≈$90K key zone,” he wrote.

For context, a “dead cat bounce” refers to a temporary recovery or brief upward movement in the price of an asset after a prolonged downtrend. This is followed by a continuation of the downtrend. However, he added that the bearish scenario would be nullified if Bitcoin manages to break past the resistance level.
Meanwhile, changing macroeconomic conditions are also a growing concern, particularly with US President Donald Trump’s tariff announcements scheduled for April 2. In their recent report, K33 Research stressed that although markets are currently stable, the upcoming tariff decisions could trigger considerable volatility in the market.
“Tariffs remain the primary producer of market-moving headlines, rendering most traders risk-averse as we approach a big day of tariff announcements on April 2,” the report read.
The report further advised caution and recommended avoiding leverage due to the anticipated tariff-induced volatility.
Recently, BeInCrypto also explored how Trump’s tariff plans might impact crypto markets. High tariffs could pressure risk assets like Bitcoin, potentially mirroring the market’s reaction in February. Conversely, if tariffs are delayed or applied selectively, investor fears may ease. This, in turn, could lead to a potential recovery in crypto prices.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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