Florida’s Chief Financial Officer, Jimmy Patronis, is exploring the idea of including Bitcoin in the state’s public pension funds. In a letter to the State Board of Administration, Patronis suggested a feasibility study for crypto investments to diversify the state’s retirement funds and provide a hedge against market volatility.

Inspired by National Crypto Policies

Patronis’s request aligns with former President Trump’s idea of creating a national Bitcoin reserve, an initiative proposed at the Bitcoin 2024 conference. Patronis argues that Bitcoin could be part of Florida’s investment strategy, offering growth potential beyond traditional assets.

Statewide Crypto Adoption

Florida has taken several steps toward crypto adoption under Governor Ron DeSantis, who banned CBDCs in the state and supported businesses paying taxes in Bitcoin. Patronis hopes to receive the feasibility report before the next legislative session, looking to position Florida as a crypto-friendly state for investment.
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