Florida’s Chief Financial Officer, Jimmy Patronis, has formally requested that the state’s pension fund managers explore the feasibility of investing in Bitcoin, positioning the state to potentially adopt BTC as a strategic reserve asset. In a letter dated October 29, 2024, addressed to Chris Spencer, Executive Director of the Florida State Board of Administration (SBA), Patronis outlines his vision for integrating Bitcoin into the state’s investment portfolio.
Patronis’s proposal comes on the heels of former President Donald Trump’s recent speechat the Bitcoin 2024 conference, where Trump advocated for the United States to establish a national stockpile of Bitcoin. “This comes as the Communist Party of China makes inroads every day into the crypto world to grab control over this emerging currency,” Patronis notes, referencing geopolitical motivations for embracing Bitcoin.
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