Media › Putting Fort Knox on the Blockchain: How Tokenized Gold Could Revolutionize How We Move & Store Value
 
 

Putting Fort Knox on the Blockchain: How Tokenized Gold Could Revolutionize How We Move & Store Value

2025-05-09 06:45:02| Spiritual Career Counseling

On March 5, President Trump signed an executive order creating a Strategic Bitcoin Reserve (SBR). The SBR will be capitalized initially with cryptoassets obtained by the Department of Treasury through criminal and civil asset forfeiture worth about $6.9 billion.However, this could just be the start: Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, both well-known Bitcoin bulls, are now authorized to develop budget-neutralstrategies for acquiring additional BTC, provided that those strategies impose no incremental costs on American taxpayers.One bold idea floated by Wyoming Senator Cynthia Lummis is to 'monetize' the gold being held in Fort Knox and swap some of it for Bitcoin. Right now, gold is being held by the U.S. government at "book value" of about $42/oz, the same price as in 1973, a far cry from the approximately $3,000/oz trading price today. Indeed, Treasury Secretary Scott Bessent has said the U.S. will move to monetize its assets which many interpret...


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