Federal Reserve Chair Candidate Rick Rieder has stated that Bitcoin will replace gold and has advised investors to hold Bitcoin in their portfolios.

BlackRock's Global Fixed Income Chief Investment Officer Rick Rieder has said that Bitcoin will replace gold and recommended investors to hold Bitcoin.

His chances of being a top candidate for Federal Reserve Chair have risen to first place, and it is expected that Bitcoin will continue to rise.

BlockBeats news, January 27, according to CoinDesk reports, BlackRock's Global Fixed Income Chief Investment Officer Rick Rieder, a top candidate for Federal Reserve Chair, has stated that Bitcoin will replace gold and advised investors to hold Bitcoin in their portfolios.

In the prediction market, Rieder's chances of being elected have quickly risen to first place, and he has publicly supported cryptocurrencies multiple times. 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 passing a gold bar."

Recently, he stated on the same media that Bitcoin should be part of a smart investment portfolio, and he said that both Bitcoin and gold are "assets that can provide some stability to a portfolio." At that time, Bitcoin was still above $112,000, and he predicted "it will continue to rise."

Currently, Bitcoin is priced at about $88,000, having recently fallen due to potential tariff measures and other geopolitical turmoil. Rick Rieder publicly expressed dissatisfaction with the Federal Reserve's slow pace of rate cuts, similar to Trump. In a recent interview during the World Economic Forum in Davos, Trump praised him as "very outstanding."

Currently, the probability of betting on Polymarket that BlackRock's Global Fixed Income Chief Investment Officer Rick Rieder will become the next Federal Reserve Chair is 46%.