Fed Chair frontrunner Rick Rieder has stated that Bitcoin will replace gold and suggested that investors hold Bitcoin in their portfolios

According to CoinDesk, Rick Rieder, the Chief Investment Officer of Global Fixed Income at BlackRock and a popular candidate for the Federal Reserve Chair, has stated that Bitcoin will replace gold and has suggested that investors hold Bitcoin in their portfolios. In the prediction market, Rieder's chances of being elected have quickly risen to the top, and he has publicly supported cryptocurrencies multiple times.

As early as 2020, when digital assets were still in their infancy, he stated in an interview with CNBC that Bitcoin would replace gold as a store of value, "because it is much easier to transfer than a gold bar." Recently, he mentioned in the same media that Bitcoin should be part of a smart portfolio, calling both Bitcoin and gold "assets that can provide a certain stability to a portfolio." At that time, Bitcoin was still above $112,000, and he predicted that "it will continue to rise." Currently, the price of Bitcoin is around $88,000, having recently dropped due to potential tariff measures and other geopolitical turmoil.

Rick Rieder has publicly expressed dissatisfaction with the Federal Reserve's slow pace of interest rate cuts, similar to Trump. In a recent interview during Trump's time in Davos, Trump praised him as "very outstanding." Currently, the probability of betting on Rick Rieder becoming the next Federal Reserve Chair on Polymarket is 46%.