Official statements or press releases from Florida state government

Florida CFO Jimmy Patronis Endorses 'Strategic Bitcoin Reserve' as Hedge for Firefighters, Teachers, and Police Officers

Oct 29, 2024, 09:14 PM

Florida's Chief Financial Officer, Jimmy Patronis, has made a significant move by endorsing a 'Strategic Bitcoin Reserve' aimed at encouraging state pension funds to invest in Bitcoin. In his endorsement, Patronis described Bitcoin as 'digital gold,' suggesting that it could help diversify the state's investment portfolio and serve as a secure hedge against the volatility of other major asset classes. This initiative marks a notable development for cryptocurrency adoption in the United States, as Florida seeks to leverage Bitcoin's potential benefits for its financial strategy, particularly for pension funds serving firefighters, teachers, and police officers.