According to a ChainCatcher report citing CoinDesk, Rick Rieder, the head of global fixed income at BlackRock and a top contender for the position of Federal Reserve Chair, has stated that Bitcoin will replace gold and advised investors to hold Bitcoin in their portfolios. In prediction markets, the probability of Rieder being appointed has rapidly risen to the top, and he has repeatedly publicly supported cryptocurrencies. As early as 2020, when digital assets were still in their early stages, he told CNBC that Bitcoin would replace gold as a store of value "because it is much more convenient than carrying a gold bar." Recently, he reiterated on the same media that Bitcoin should be part of a smart investment portfolio, noting that both Bitcoin and gold are "assets that can provide a certain level of stability to a portfolio." At the time of that interview, Bitcoin was trading above $112,000, and he predicted it "would continue to rise." Currently, Bitcoin is trading at around $88,000, having recently declined due to potential tariff measures and other geopolitical turbulence. Rick Rieder has publicly expressed frustration with the Federal Reserve's slow pace of interest rate cuts, a sentiment shared by Trump. During a recent interview with Trump at the Davos Forum, Trump praised Rieder as "very good." On Polymarket, the probability of Rick Rieder becoming the next Federal Reserve Chair is currently at 46%.
Rick Rieder, a Contender for Federal Reserve Chair, Predicts Bitcoin Will Replace Gold
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Summary
Bitcoin news breaks as Rick Rieder, BlackRock's Global Head of Fixed Income and a leading candidate for Fed Chair, predicts Bitcoin will replace gold as a store of value. Rieder, now the top candidate on prediction markets with a 46% chance of appointment, has long supported cryptocurrencies. In a 2020 interview, he called Bitcoin more convenient than gold and recently reiterated that it belongs in smart portfolios. Rieder's Bitcoin price prediction came as the asset traded above $112,000, though it has since dipped to $88,000 amid tariff fears and geopolitical tensions. Rieder also criticized the Fed's slow rate cuts, a stance echoed by Donald Trump.
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