Rick Rieder, Potential Trump Fed Chair, Calls Bitcoin the "New Gold" in Major Endorsement

Rick Rieder, a top contender for Federal Reserve Chair if Donald Trump wins the election, has made a significant statement comparing Bitcoin to gold. As the Chief Investment Officer of Global Fixed Income at BlackRock, the world's largest asset manager, Rieder's views carry substantial weight in financial circles. He highlighted Bitcoin's growing role as a store of value and a hedge against inflation, similar to traditional gold. This endorsement is seen as a major positive signal for Bitcoin's legitimacy within institutional investment portfolios. Rieder's perspective underscores the increasing acceptance of cryptocurrency by mainstream financial leaders, especially as discussions about monetary policy and digital assets intensify.