CandleFocus Bitcoin could join Florida state pension funds under CFO’s proposal
2024-10-29
Author: Content Editor
The Chief Financial Officer of Florida, Jimmy Patronis, has written a letter requesting a report on the potential of Bitcoin and other digital assets as an investment for state pension funds. Patronis believes that investing in cryptocurrencies could diversify the state's portfolio and act as a hedge against the volatility of other assets. He suggested the implementation of a "Digital Currency Investment Pilot Program" within the Florida Growth Fund. The letter also mentioned other states, such as Wisconsin, Michigan, and Arizona, that have already invested in crypto or advanced efforts to do so. Wyoming and Nebraska have also enacted laws to attract the crypto mining industry. Patronis emphasized the need for Florida to stay ahead of the curve and provide the best returns for its residents.
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