BlockBeats News, January 27th, according to CoinDesk’s report, Rick Rieder, CIO of Global Fixed Income at BlackRock and a leading candidate for Federal Reserve Chair, has stated that Bitcoin will replace gold and advised 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 consistently voiced support for cryptocurrency. Currently, the probability on Polymarket of BlackRock’s Global Chief Investment Officer Rick Rieder becoming the next Federal Reserve Chair is 46%.
As early as 2020, when digital assets were still in their early stages, he stated in an interview with CNBC that Bitcoin would replace gold as a store of value, “because it’s much more convenient than transporting a gold bar.” Recently, he stated on the same media outlet that Bitcoin should be part of a smart portfolio investment and described both Bitcoin and gold as assets that “can provide a certain 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 dropped due to potential tariff measures and other geopolitical unrest.
Rick Rieder has publicly expressed dissatisfaction with the Federal Reserve’s slow interest rate cuts, similar to Trump. In a recent interview with Trump during Davos, Trump praised him as “very outstanding.”
