Cryptocurrencies as a new safe-haven asset
According to media reports, Rick Rieder, the head of BlackRock's bond investment division, is being considered as a candidate for the position of Chair of the Federal Reserve System of the United States. Rieder is known for his positive statements about cryptocurrencies, particularly Bitcoin, which he considers the "new gold".
In the context of high volatility in financial markets and uncertainty around Trump's economic policy, Rieder's candidacy may be quite attractive to the American president. Rieder shares the view that cryptocurrencies, along with gold, can serve as a "safe haven" for investors during periods of economic instability.
Rieder's position on cryptocurrencies
Rieder believes that Bitcoin and other digital assets are gradually gaining recognition as alternative investment instruments. In his opinion, investors are increasingly seeing cryptocurrencies as the "new gold" - an asset that can be used to diversify a portfolio and hedge against risks.
Rieder's appointment as the head of the Federal Reserve could mark a more positive attitude of the regulator towards the cryptocurrency industry. This, in turn, could contribute to the growth of institutional investors' trust in digital assets and further development of the crypto economy.
Conclusion
If Rieder does become the new Chair of the Federal Reserve System of the United States, this could be an important event for the cryptocurrency industry. His views on Bitcoin and other digital assets as alternative investment instruments could have a significant impact on the Fed's policy towards cryptocurrencies.