Key Takeaways
- Florida holds $800 million in crypto investments in response to Florida’s CFO.
- Bitcoin could grow to be an funding possibility for Florida’s state pension funds.
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Jimmy Patronis, Floridaโs CFO, said that the state holds $800 million in crypto-related investments and is exploring additional growth into digital belongings. The CFO stated he โwouldn’t be shockedโ to see the determine develop underneath a Trump administration.
JUST IN: Florida’s CFO says crypto is ‘not going anyplace’ and insists ‘weโd be a idiot’ to not seize the chancepic.twitter.com/7DbnBglLNQ
โ Crypto Briefing (@Crypto_Briefing) October 31, 2024
Talking on CNBCโs Squawk Field, Patronis emphasised the stateโs dedication to exploring crypto alternatives.
โCryptoโs not going anyplace. Weโd be a idiot if weโre not ready to do every thing we will to harness the alternatives there.โ he stated.
Earlier this week, Patronis despatched a letter to the Florida State Board of Administration requesting that Bitcoin be thought of as an funding possibility for state pension funds.
The proposal comes as different states, together with Wisconsin and Michigan, have already allotted parts of their pension funds to crypto investments.
โIโm a fiduciary of the stateโs pension funds, and I want to verify the legislature is armed with all of the instruments and sources Iโve put into our SBA funding group,โ Patronis stated in the course of the interview.
He added that he โwouldn’t be shockedโ to see the determine develop underneath a Trump administration.
Patronis additionally addressed issues about central financial institution digital currencies (CBDCs), suggesting that crypto might function a hedge in opposition to authorities financial coverage.
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