Rick Rieder, a leading contender for the Federal Reserve Chair position under President Donald Trump, has recently captured attention with his remarks about Bitcoin (BTC).
Current prediction markets assign a 46% chance that Rick Rieder will be chosen as the next FED Chairman.
As BlackRock’s Chief Investment Officer overseeing global fixed income portfolios, Rieder refers to Bitcoin as “the new gold” and advocates for its inclusion in investment portfolios. He has consistently maintained a favorable stance on cryptocurrencies.
Back in 2020 during an interview with CNBC, Rieder predicted that Bitcoin would eventually supplant gold as a store of value. He noted it is “far more practical than physically passing around a gold bar.” More recently, he described both Bitcoin and gold as complementary assets that help balance portfolio risk. In September, when Bitcoin’s price exceeded $112,000, he forecasted further gains based on its long-term prospects. However, due to geopolitical tensions and tariff issues, Bitcoin’s price has settled near $88,000 lately.
The decision must come before Jerome Powell's term ends on May 15. Trump initially appointed Powell but has criticized him repeatedly for not reducing interest rates quickly enough. At Davos this year, Trump praised Rieder as “very impressive.”
Although the Fed Chair does not directly regulate cryptocurrency markets extensively, their views on monetary policy and economic conditions significantly influence market sentiment. Appointing someone openly supportive of Bitcoin could mark an unprecedented symbolic shift at the Fed's helm. It remains unclear if Powell will stay on the board after stepping down from chairmanship—a factor crucial to Trump's ability to appoint new members.
This content is provided for informational purposes only and should not be considered investment advice.