Florida's Chief Financial Officer, Jimmy Patronis, has asked the State Board of Administration (SBA) to assess the feasibility of investing a portion of the state's retirement funds in cryptocurrencies, specifically Bitcoin. Patronis advocates for Bitcoin as a means to diversify the state's investment portfolio and mitigate risks from traditional asset classes. This request follows Donald Trump's supportive stance towards cryptocurrencies during his remarks at a Bitcoin conference. Patronis proposed a Digital Currency Investment Pilot Program to test the viability of crypto investments within Florida's pension system, leveraging existing legislative provisions that allow for investments in technology enterprises. He emphasized the importance of competitive returns for state pensions, aligning with ongoing efforts by Governor Ron DeSantis to position Florida as a crypto-advocate state. Other states such as California and Arizona have made strides toward integrating cryptocurrencies into their pension funds, prompting Florida to explore similar options.

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