Inspired by Trump, Florida Official Eyes State Bitcoin Stockpile for Retirees
Florida Chief Financial Officer Jimmy Patronis is advocating for the use of state pension funds to invest in Bitcoin, inspired by Donald Trump's comments about the U.S. establishing a strategic crypto reserve. Patronis suggested that state investment managers explore the potential of including Bitcoin in the pension funds for retired state workers, including firefighters and teachers. He highlighted Bitcoin's status as 'digital gold' and its potential to diversify investment portfolios and mitigate volatility from other assets. Patronis requested a report outlining how cryptocurrency investments could be integrated into the state's financial strategies before the next legislative session. His proposal aligns Florida with other states, such as Wisconsin and Michigan, that have considered similar investment strategies.
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