Tuesday, June 3, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Florida CFO Pushes for BTC in State Retirement Investments

October 30, 2024
in Crypto Updates
Reading Time: 3 mins read
0 0
A A
0
Home Crypto Updates
Share on FacebookShare on TwitterShare on E Mail


States like Wisconsin and Michigan have begun incorporating crypto belongings into their public pension funding portfolios. Now, Florida is contemplating an analogous path, with its Chief Monetary Officer, Jimmy Patronis, advocating for the inclusion of Bitcoin 


BTC

$71,853.67

 within the state’s retirement fund investments.

On October 29, Patronis offered the concept in a letter to Chris Spencer, the chief director of the Florida State Board of Administration (SBA). The SBA manages greater than 30 funds, most notably the Florida Retirement System Belief Fund, which held roughly $205 billion in belongings as of September 30.

He urged an analysis of the feasibility, dangers, and potential benefits of allocating a portion of the state’s retirement belongings to crypto. He requested that this report be ready earlier than the following legislative session on March 4, 2025.

Do you know?

Need to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer movies each week!

What’s an NFT? (Defined with Animations)

What is an NFT? (Explained with Animations)
What is an NFT? (Explained with Animations)

To streamline the proposed transfer into digital belongings, Patronis advisable making a “Digital Forex Funding Pilot Program” throughout the Florida Development Fund. This fund can allocate as much as 1.5% of the Florida Retirement System Belief Fund for investments. A report from January reveals the fund put about $998 million into high-growth tasks from 2022 to 2023, highlighting its adaptability to progressive funding approaches.

Patronis highlighted Bitcoin’s fame as “digital gold,” emphasizing its potential to diversify the state’s funding portfolio and function a safe hedge in opposition to volatility in different main asset courses.

He identified the significance of maximizing returns for Floridians, significantly when managing pensions for important public servants like firefighters, educators, and regulation enforcement officers.

Moreover, Patronis talked about that such a transfer would align with Governor Ron DeSantis’ latest efforts to oppose central financial institution digital currencies (CBDCs), noting that cryptocurrencies symbolize the “antithesis” of centralized financial techniques.

Ought to Florida proceed with investing in digital currencies, it might be a part of different forward-thinking states embracing cryptocurrency belongings inside their public pension funds.

In different information, El Salvador’s choice to make Bitcoin authorized tender continues to face criticism from the Worldwide Financial Fund (IMF), which is asking the nation to “restrict public publicity” to the cryptocurrency.



Source link

Tags: BTCCFOFloridaInvestmentsPushesRetirementState
Previous Post

Shiba Inu (SHIB) Price Prediction for Today, October 30—SHIB Technical Analysis

Next Post

Bitcoin Is Having Its Best Year Ever

Related Posts

Russia Just Dropped A Bitcoin Bomb—While The US Debates
Crypto Updates

Russia Just Dropped A Bitcoin Bomb—While The US Debates

June 3, 2025
Robinhood Seals Bitstamp Acquisition, Marks Entry into Crypto Trading
Crypto Updates

Robinhood Seals Bitstamp Acquisition, Marks Entry into Crypto Trading

June 3, 2025
Khaleej Times Adopts VeraViews
Crypto Updates

Khaleej Times Adopts VeraViews

June 2, 2025
BitoPro Hit with $11.5M Crypto Theft
Crypto Updates

BitoPro Hit with $11.5M Crypto Theft

June 3, 2025
Here’s What The Ripple CEO Had To Say About The Bitcoin Vs. XRP Debate
Crypto Updates

Here’s What The Ripple CEO Had To Say About The Bitcoin Vs. XRP Debate

June 2, 2025
Blazek Quits After $45M Crypto Case Hits Justice Ministry
Crypto Updates

Blazek Quits After $45M Crypto Case Hits Justice Ministry

June 2, 2025
Next Post
Bitcoin Is Having Its Best Year Ever

Bitcoin Is Having Its Best Year Ever

How American artist Charles J. Connick’s poetically reimagined Medieval stained glass

How American artist Charles J. Connick’s poetically reimagined Medieval stained glass

Champions Tactics: Grimoria Chronicles is Live! Yet, Web3 Gaming Faces Mainstream Resistance | NFT CULTURE | NFT News | Web3 Culture

Champions Tactics: Grimoria Chronicles is Live! Yet, Web3 Gaming Faces Mainstream Resistance | NFT CULTURE | NFT News | Web3 Culture

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In