- Rick Rieder suggests Bitcoin will replace gold as a store of value.
- Rieder’s Fed Chair odds rise on Polymarket prediction market.
- Bitcoin price currently hovers around $87,627 amid geopolitical issues.
Rick Rieder, BlackRock’s Global Chief Investment Officer, suggests Bitcoin will replace gold and advises its inclusion in investment portfolios, amid his rising candidacy for Federal Reserve chair.
Rieder’s endorsement underscores growing institutional support for Bitcoin, potentially influencing Federal Reserve policy towards cryptocurrencies if appointed, impacting market dynamics and investor strategies.
Bitcoin’s Market Dynamics and Institutional Influence
Did you know? Rick Rieder has advocated Bitcoin over gold since 2020, citing its ease of transfer as a key advantage, marking a significant shift in institutional perspectives on digital assets.
Bitcoin will replace gold as a store of value, because it’s much easier to transmit than a gold bar. – Rick Rieder, Global Chief Investment Officer of Fixed Income, BlackRock Binance Square
BingX offers exclusive rewards and top-tier security for new and high-volume crypto traders.
Community and market reactions indicate approval of Rieder’s stance, with support from high-profile figures like Donald Trump. The endorsement has led to a boost in confidence across certain cryptocurrency sectors.
Bitcoin’s Market Dynamics and Institutional Influence
Did you know? Rick Rieder has advocated Bitcoin over gold since 2020, citing its ease of transfer as a key advantage, marking a significant shift in institutional perspectives on digital assets.
Bitcoin (BTC) holds a current price of $87,627.13 with a market capitalization of $1.75 trillion, maintaining a 59.05% dominance in the market. Recent trading volumes decreased by 36.83%, reflecting market instability. Price changes over the past 90 days show a decline of 21.71%.
Insights from the Coincu research team suggest that adopting a crypto-friendly stance by potential Fed leaders like Rieder could accelerate institutional cryptocurrency investment, influencing market dynamics and cementing Bitcoin’s role as a primary store of value.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
No tags available.
Other Posts
- Amplify 2024: Ohio’s Premier Blockchain Summit
- Polymarket Announces U.S. Beta Relaunch Amid Market Buzz
- China, US Conclude Trade Talks with Focus on Cooperation
- Michael Saylor Denies Bitcoin Sell-Off Amid Large BTC Transfer
- Court Upholds Fed’s Rejection of Custodia Bank’s Request
- Kazakhstan Explores Crypto Reserves Backed by National Funds
- Nordea Bank Introduces Bitcoin ETP Trading for Nordic Customers
- EU Opens Antitrust Probe Into Deutsche Boerse and Nasdaq Derivatives Dealings
- U.S. Treasury Proposes New Tax Relief Regulations
- Radiant Capital Faces $50M Loss in Major Security Breach
- SEGG Media Unveils $300 Million Crypto Reserve Plan
- 21Shares Files S-1 With SEC to Launch Hyperliquid ($HYPE) ETF
- Hong Kong Sentences Influencer for Unlicensed Investment Advice
- Franklin Templeton Signals TradFi and Crypto Integration
- JPMorgan Increases Holdings in BlackRock’s Bitcoin ETF
- Crypto Leaders Address Macro Volatility Amid Market Shifts
- Capital A and Standard Chartered Explore Malaysia Stablecoin Launch
- JPMorgan Chase Launches 24/7 Digital Deposit Token for Clients
- CFTC Chairman Selig Plans to Formalize Crypto Regulations
- MicroStrategy Retains Spot in Nasdaq 100 Amid Criticism
- Amplify 2024: Ohio’s Premier Blockchain Summit
- Polymarket Announces U.S. Beta Relaunch Amid Market Buzz
- China, US Conclude Trade Talks with Focus on Cooperation
- Michael Saylor Denies Bitcoin Sell-Off Amid Large BTC Transfer
- Court Upholds Fed’s Rejection of Custodia Bank’s Request
- Kazakhstan Explores Crypto Reserves Backed by National Funds
- Nordea Bank Introduces Bitcoin ETP Trading for Nordic Customers
- EU Opens Antitrust Probe Into Deutsche Boerse and Nasdaq Derivatives Dealings
- U.S. Treasury Proposes New Tax Relief Regulations
- Radiant Capital Faces $50M Loss in Major Security Breach
- SEGG Media Unveils $300 Million Crypto Reserve Plan
- 21Shares Files S-1 With SEC to Launch Hyperliquid ($HYPE) ETF
- Hong Kong Sentences Influencer for Unlicensed Investment Advice
- Franklin Templeton Signals TradFi and Crypto Integration
- JPMorgan Increases Holdings in BlackRock’s Bitcoin ETF
- Crypto Leaders Address Macro Volatility Amid Market Shifts
- Capital A and Standard Chartered Explore Malaysia Stablecoin Launch
- JPMorgan Chase Launches 24/7 Digital Deposit Token for Clients
- CFTC Chairman Selig Plans to Formalize Crypto Regulations
- MicroStrategy Retains Spot in Nasdaq 100 Amid Criticism
- Amplify 2024: Ohio’s Premier Blockchain Summit
- Polymarket Announces U.S. Beta Relaunch Amid Market Buzz
- China, US Conclude Trade Talks with Focus on Cooperation
- Michael Saylor Denies Bitcoin Sell-Off Amid Large BTC Transfer
- Court Upholds Fed’s Rejection of Custodia Bank’s Request
- Kazakhstan Explores Crypto Reserves Backed by National Funds
- Nordea Bank Introduces Bitcoin ETP Trading for Nordic Customers
- EU Opens Antitrust Probe Into Deutsche Boerse and Nasdaq Derivatives Dealings
- U.S. Treasury Proposes New Tax Relief Regulations
- Radiant Capital Faces $50M Loss in Major Security Breach
- SEGG Media Unveils $300 Million Crypto Reserve Plan
- 21Shares Files S-1 With SEC to Launch Hyperliquid ($HYPE) ETF
- Hong Kong Sentences Influencer for Unlicensed Investment Advice
- Franklin Templeton Signals TradFi and Crypto Integration
- JPMorgan Increases Holdings in BlackRock’s Bitcoin ETF
- Crypto Leaders Address Macro Volatility Amid Market Shifts
- Capital A and Standard Chartered Explore Malaysia Stablecoin Launch
- JPMorgan Chase Launches 24/7 Digital Deposit Token for Clients
- CFTC Chairman Selig Plans to Formalize Crypto Regulations
- MicroStrategy Retains Spot in Nasdaq 100 Amid Criticism
Latest
Litecoin Could Break Out of 9 Year Consolidation With $1,000 Target in Sight
Press Release
Cango Inc. Closed the US$10.5 Million Equity Investment and Secured US$65 Million Additional Equity Investments
Phemex Astral Trading League (PATL) Goes Live, Building a Sustainable Seasonal Trading Progression System
