{"id":43005,"date":"2024-12-10T06:42:56","date_gmt":"2024-12-10T06:42:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-reserve-on-horizon-as-florida-leverages-185-billion-pension-fund\/"},"modified":"2024-12-10T06:42:56","modified_gmt":"2024-12-10T06:42:56","slug":"bitcoin-reserve-on-horizon-as-florida-leverages-185-billion-pension-fund","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-reserve-on-horizon-as-florida-leverages-185-billion-pension-fund\/","title":{"rendered":"Bitcoin Reserve on Horizon as Florida Leverages $185 Billion Pension Fund"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Florida is positioning itself to become a trailblazer among U.S. states by creating a strategic Bitcoin reserve. Samuel Armes, president of the Florida Blockchain Business Association (FBBA), recently announced the state\u2019s ambitions on the social media platform X. He highlighted the support from pro-Bitcoin leaders, emphasizing the likelihood of this initiative moving forward during Florida\u2019s legislative session in early 2025.<\/p>\n

Leveraging State Funds for Bitcoin Investments<\/h2>\n

Armes suggested that Florida could tap into its $185.7 billion pension fund, the fourth-largest in the nation, to establish the reserve. He proposed allocating just 1% of the fund to Bitcoin, which would amount to $1.857 billion. Here\u2019s what he said, \u201cFlorida has a very good chance of creating a strategic Bitcoin reserve this session, which starts in Q1 of 2025. [We can] leverage our $185.7 billion pension fund (4th largest in the U.S.) to allocate a small percentage to Bitcoin as a hedge against inflation\u2026Just investing ONE percent of our pension fund into Bitcoin would be $1.857 billion.\u201d<\/i><\/p>\n

He also noted that the state could use its budget surplus for crypto investments without compromising essential services. By allocating a mere 1% of the surplus, Florida could invest an additional $1.165 billion in Bitcoin.<\/p>\n

\u201cInflation and time will eat away at any budget surpluses we have,\u201d<\/em> Armes warned, advocating for strategic investment to counteract these economic challenges.<\/p>\n

Florida\u2019s Chief Financial Officer (CFO), Jimmy Patronis, recently underscored the state\u2019s proactive stance on cryptocurrency. He revealed that Florida\u2019s government already holds $800 million in crypto-related investments and sees the potential for further expansion.<\/p>\n

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\u201cCrypto\u2019s not going anywhere. It\u2019s not going to contract. It\u2019s going to continue to be expanding,\u201d<\/em> Patronis stated. \u201cI think we\u2019d be a fool if we\u2019re not prepared to do everything we can to harness the opportunities there.\u201d<\/em><\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Florida is positioning itself to become a trailblazer among U.S. states by creating a strategic Bitcoin reserve. Samuel Armes, president of the Florida Blockchain Business Association (FBBA), recently announced the state\u2019s ambitions on the social media platform X. He highlighted the support from pro-Bitcoin leaders, emphasizing […]<\/p>\n","protected":false},"author":35,"featured_media":43006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43005"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=43005"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/43005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/43006"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=43005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=43005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=43005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}