Close Menu
Cryprovideos
    What's Hot

    Franklin Templeton Warns of Critical Dangers in Institutional Bitcoin Treasury Methods

    July 3, 2025

    Finest Altcoins to Purchase in July – USELESS, BROCCOLI, TOKEN6900 & Extra

    July 3, 2025

    TD9 Setup On Bitcoin Worth Chart Suggests It May Take 4 Years To Attain $149,000 — Particulars

    July 3, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Markets»Florida’s CFO Recommends Bitcoin Investment for State Retirement Funds Amid Growing Interest
    Florida’s CFO Recommends Bitcoin Investment for State Retirement Funds Amid Growing Interest
    Markets

    Florida’s CFO Recommends Bitcoin Investment for State Retirement Funds Amid Growing Interest

    By Deniz SaatNovember 1, 2024No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Florida’s Chief Financial Officer and Fire Marshal, Jimmy Patronis, has recommended that state retirement fund managers examine Bitcoin as a potential investment for the state’s portfolio, reflecting a trend among U.S. states exploring Bitcoin for diversification.

    In an October 29th letter addressed to Chris Spencer, Executive Director of the Florida State Board of Administration (SBA), Patronis described Bitcoin’s potential as a stabilizing asset, often referred to as “digital gold.” 

    He requested a report on the feasibility, risks, and potential benefits of including digital assets in Florida’s retirement fund portfolio, with findings due by March 4th, 2025.

    There’s no telling what the future of #cryptocurrency will be, but FL must stay ahead of the curve on getting the best returns for Floridians. Today, I sent a letter to @FloridaSBA requesting a report on digital currencies. #BTC #Bitcoin

    ➡️ Read more: https://t.co/4JBL6WBtq1

    — Jimmy Patronis (@JimmyPatronis) October 29, 2024

    Currently, the SBA manages over 30 funds, including the $205 billion Florida Retirement System Trust Fund as of September 30th. 

    Under the Florida Growth Fund, the SBA has authority to allocate up to 1.5% of the trust fund to high-growth investments and has invested around $998 million in recent years. 

    Patronis proposed using this vehicle to pilot a “Digital Currency Investment Program” to explore Bitcoin’s potential within the growth-focused portfolio.

    In his letter, Patronis emphasized that the primary duty in managing state pensions is to deliver returns for public sector retirees, adding that Bitcoin could potentially strengthen investment returns. 

    He further noted that a state investment in Bitcoin aligns with Governor Ron DeSantis’ position against central bank digital currencies (CBDCs), highlighting Bitcoin as a decentralized alternative to centralized currencies.

    If adopted, Florida would join states like Wisconsin and Michigan in including Bitcoin in public retirement funds. 

    Wisconsin’s investment board disclosed a $164 million investment in Bitcoin exchange-traded funds (ETFs), while Michigan reported a smaller allocation to a Bitcoin ETF from ARK 21Shares.

    Share this article

    The link has been copied!





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Finest Altcoins to Purchase in July – USELESS, BROCCOLI, TOKEN6900 & Extra

    July 3, 2025

    Senator Lummis Introduces Digital Asset Tax Laws

    July 3, 2025

    MiL.ok Launches USD1 Loyalty Hub on BNB Chain, Bringing Actual-World Rewards On-Chain | UseTheBitcoin

    July 3, 2025

    Sui Reclaims $3 After Week-Lengthy Rally Sparked by Lion Group’s Treasury Plans

    July 3, 2025
    Latest Posts

    Franklin Templeton Warns of Critical Dangers in Institutional Bitcoin Treasury Methods

    July 3, 2025

    TD9 Setup On Bitcoin Worth Chart Suggests It May Take 4 Years To Attain $149,000 — Particulars

    July 3, 2025

    Bitcoin Transitioning to Protected-Haven Asset as Volatility Plunges

    July 3, 2025

    Fundstrat’s Tom Lee Says Two Components Stopping Bitcoin From Going to the ‘Moon’ Regardless of Heavy Demand From ETFs – The Every day Hodl

    July 3, 2025

    Circle inventory outpaces Bitcoin with 472% development since June IPO

    July 3, 2025

    Tether and Adecoagro Signal Settlement To Discover Renewable Power-Powered Bitcoin Mining in Brazil

    July 3, 2025

    Bitcoin, Ethereum Buying and selling Coming to KBC Financial institution Shoppers

    July 3, 2025

    Senator Lummis Introduces Bitcoin Tax Reform Invoice – Bitbo

    July 3, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    OpenSea Dodges a Bullet as SEC Drops Investigation—Particulars

    February 23, 2025

    Crypto merchants misplaced over $24 million in Solana attributable to memecoin mishaps

    January 31, 2025

    Crypto market in deep crimson: what’s triggering the bear development?

    February 25, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.