Rick Rieder Calls Bitcoin the 'New Gold' as He Emerges as Trump Fed Chair Favorite
Rick Rieder, BlackRock’s chief investment officer, has surfaced as a frontrunner in online markets as President Trump considers candidates for Fed chair. Rieder’s public comments framing Bitcoin as the “new gold” and his generally pro-crypto posture have amplified debate about how a Fed led by someone with a market-focused, asset-allocation background might approach digital assets and inflation hedging.
The significance for markets is immediate: a Fed chair sympathetic to crypto could tilt regulatory tone and investor expectations, potentially easing institutional adoption or influencing Treasury and banking interactions with crypto firms. That said, the Fed’s statutory mandate and congressional oversight remain constraints, so any material shift would depend on appointments, rulemaking, and broader political dynamics. Traders and long-term holders will watch signals from nominations and early policy discussions closely.