Federal Reserve Chair Contender Rick Rieder has suggested that Bitcoin will replace gold and advised investors to hold Bitcoin in their portfolios

BlockBeats News, January 27th, according to CoinDesk, Rick Rieder, a popular candidate for the Federal Reserve chairmanship and Global Chief Investment Officer of Fixed Income at BlackRock, has stated that Bitcoin will replace gold and recommended investors to hold Bitcoin in their portfolios. In the prediction markets, Rieder's chances of being elected have rapidly risen to first place, and he has openly expressed his support for cryptocurrency on multiple occasions. Currently, the probability of betting on Rick Rieder becoming the next Federal Reserve chair on Polymarket is 46%.

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

Rick Rieder has publicly expressed dissatisfaction with the Federal Reserve's slow pace of interest rate cuts, similar to Trump. In Trump's recent interview during Davos, he praised Rieder as "very outstanding."