Tokenizing the United States’ gold reserves could have a positive impact on the leading cryptocurrency. This was stated by Greg Cipolaro, Head of Research at New York Digital Investment Group (NYDIG).
According to him, moving precious metals onto the blockchain will increase transparency, but the reserves will still remain dependent on centralized structures, unlike Bitcoin.
Cipolaro explained that such projects cannot operate on a “trustless” model like digital gold, as they require government involvement. However, their implementation would improve the public perception of cryptocurrencies.
Interest in the state of the U.S. gold reserves has intensified amid renewed calls for an independent audit of the vaults.
In particular, Senator Rand Paul urged the Department of Government Efficiency (DOGE) under Elon Musk’s leadership to investigate the U.S. government’s reserves at Fort Knox, where, according to the Mint, about half of the country’s gold is stored.
Nope. Let’s do it. https://t.co/4sgVpaCwwz
— Rand Paul (@RandPaul) February 16, 2025
Earlier, on February 18, Polymarket opened bets on the potential audit of the gold reserves by the Department of Government Efficiency. Users were skeptical about the likelihood of an independent review.