Rick Rieder, a rising favorite for Trump's Fed chair pick, sees bitcoin as new gold

As Trump mulls the next leader of the U.S. Federal Reserve, the BlackRock executive has caught a surge of online wagers, and he'd bring a pro-crypto view. What to know : With his term running out in May, Federal Reserve Chairman Jerome Powell is on the verge of being replaced, and online wagers suggest BlackRock's Rick Rieder could be President Donald Trump's choice. Rieder could be a boon for bitcoin, because the high-profile finance figure has often touted its merits. The executive said as far back as 2020 that bitcoin could replace gold.