Florida's chief financial officer, Jimmy Patronis, is advocating for the inclusion of Bitcoin in the state's retirement fund investments, aligning with a trend among American states to diversify their portfolios with cryptocurrencies. In a letter to the Florida State Board of Administration, he emphasized that Bitcoin, often referred to as 'digital gold,' could provide stability against other volatile asset classes. Patronis urged the board to assess the feasibility and benefits of allocating a portion of the state’s retirement funds to digital assets before the legislative session set to begin on March 4, 2025. He proposed establishing a 'Digital Currency Investment Pilot Program' under the Florida Growth Fund, which could utilize up to 1.5% of the Florida System Trust Fund. Patronis highlighted the need to prioritize returns for state pension beneficiaries. If approved, Florida would join states like Wisconsin and Michigan, which have already incorporated cryptocurrency investments into their retirement plans.

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