Bitcoin

The post <a href="Florida’s%20CFO%20Advocates%20for%20Bitcoin%20in%20State%20Pension%20Funds" rel="noopener noreferrer nofollow">Florida’s CFO Advocates for Bitcoin in State Pension Funds</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.Florida’s Chief Financial Officer, Jimmy Patronis, urges the state’s retirement fund managers to consider Bitcoin as a potential investment, proposing it as a hedge against traditional market volatility.Jimmy Patronis recently recommended that the Florida State Board of Administration (SBA) explore including Bitcoin in the state pension funds.Read also: <a href="https://cryptosnewss.com/bitcoins-surge-nears-record-levels-but-retail-investors-hold-back/" rel="noopener noreferrer nofollow">Bitcoin&#39;s Surge Nears Record Levels, but Retail Investors Hold Back</a>Patronis <a href="https://myfloridacfo.com/docs-sf/cfo-news-libraries/news-documents/2024/cfo-sba-letter.pdf?sfvrsn&#61;cf808a4e_1" rel="noopener noreferrer nofollow">suggests</a> launching a &#34;Digital Currency Investment Pilot Program,&#34; which would allow a portion of funds to be allocated to Bitcoin.He views Bitcoin as “digital gold” and believes it could provide a secure hedge and portfolio diversification, especially for state workers’ pensions like those for teachers and firefighters.Patronis’s proposal aligns with similar moves in states like Wisconsin and Michigan, which have introduced Bitcoin ETFs into their state-managed portfolios.The Florida Retirement System Trust Fund, which currently holds around $205 billion, could invest a small portion in digital assets, potentially bringing innovation to the state’s financial strategies.If approved, Florida’s adoption of Bitcoin for pensions may pave the way for further cryptocurrency use in public funds across the U.S., expanding portfolio diversification while fueling debates over crypto&#39;s role in traditional investments.The post <a href="https://cryptosnewss.com/floridas-cfo-advocates-for-bitcoin-in-state-pension-funds/" rel="noopener noreferrer nofollow">Florida’s CFO Advocates for Bitcoin in State Pension Funds</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Florida’s CFO Advocates for Bitcoin in State Pension Funds

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