DeFi Daily News
Monday, June 9, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi Web 3

rewrite this title Florida CFO Urges State Board to Evaluate Crypto Investments for Public Pension Funds – Decrypt

Vismaya V by Vismaya V
October 30, 2024
in Web 3
0 0
0
rewrite this title Florida CFO Urges State Board to Evaluate Crypto Investments for Public Pension Funds – Decrypt
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

Florida’s Chief Financial Officer has sent a request to the State Board of Administration seeking a feasibility report for the potential to invest a portion of the state’s retirement funds in crypto, namely Bitcoin.

“Bitcoin is often called ‘digital gold,’ and it could help diversify the state’s portfolio and provide a secure hedge against the volatility of other major asset classes,” Florida’s Jimmy Patronis wrote in a letter on Tuesday. 

The request comes as Bitcoin climbed to a near five-month high on Tuesday, driven by market sentiment surrounding the U.S. presidential election. With former President Donald Trump pledging favorable crypto policies, traders expect the election results to trigger sharp price swings. 

In the letter, Patronis echoed remarks former President Donald Trump made in July at the Bitcoin 2024 conference in Nashville. At the time, Trump proposed creating a national stockpile of Bitcoin using digital assets seized through law enforcement actions.

“If elected, it will be the policy of my administration to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” Trump said at the event, adding the funds would serve as the “core of the strategic national bitcoin stockpile.”

The Florida CFO proposed how the SBA should consider launching a Digital Currency Investment Pilot Program as part of the Florida Growth Fund to test the viability of crypto in Florida’s pension system. 

“This program could be a perfect fit, offering potential benefits we cannot afford to overlook,” he added.

The Florida Growth Fund initiative stems from the Florida Technology and Growth Act of 2008. The act allows the SBA to invest up to 1.5% of Florida Retirement System Pension Fund assets in technology and growth enterprises with a significant presence in Florida.

Patronis also aligned his initiative with Florida Governor Ron DeSantis’s legislation opposing Central Bank Digital Currencies, describing crypto as the opposite of centralized financial control. 

“Crypto is the antithesis of a central currency, providing decentralized digital currencies managed on blockchain technology, not issued or controlled by any government agency,” Patronis noted.

Florida has shown consistent interest in promoting crypto adoption under the leadership of Governor Ron DeSantis. In 2022, DeSantis proposed allowing businesses to pay state taxes in Bitcoin as part of his efforts to position Florida as a crypto-friendly state. 

“When managing state pensions for firefighters, teachers, and police officers, it’s also essential to prioritize the bottom line and ensure the best return on investment for Floridians. This is where the potential of investing in a cryptocurrency, like Bitcoin, becomes particularly compelling,” said Patronis. 

The executive’s proposal mentions similar initiatives in other states. Michigan, Wisconsin, Arizona, and Jersey City have already taken steps toward incorporating crypto into their pension funds.

Wyoming and Nebraska also have established crypto-friendly regulations to attract blockchain businesses. Patronis urged that Florida must explore similar strategies, asking the SBA to complete the report before the next legislative session.

Edited by Sebastian Sinclair

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: BoardCFOCryptoDecryptEvaluateFloridafundsInvestmentsPensionpublicrewriteStatetitleUrges
ShareTweetShare
Previous Post

rewrite this title NYT Mini Crossword today: puzzle answers for Wednesday, October 30 | Digital Trends

Next Post

Zimbabwe’s ZiG to Become Country’s Sole Currency

Next Post
Zimbabwe’s ZiG to Become Country’s Sole Currency

Zimbabwe’s ZiG to Become Country's Sole Currency

Leave a Reply Cancel reply

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

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Protecting Yourself from Scams by Third-Party Sellers – NerdWallet

Protecting Yourself from Scams by Third-Party Sellers – NerdWallet

July 16, 2024
Tech companies are interested in nuclear power, but some utilities are blocking their progress.

Tech companies are interested in nuclear power, but some utilities are blocking their progress.

August 10, 2024
rewrite this title All 20 Premier League clubs ranked by their 2024/25 wage bill

rewrite this title All 20 Premier League clubs ranked by their 2024/25 wage bill

February 8, 2025
rewrite this title with good SEO Michael Saylor Explains Why Microsoft Should Buy Bitcoin

rewrite this title with good SEO Michael Saylor Explains Why Microsoft Should Buy Bitcoin

May 6, 2025
Top 5 Superior Ethereum Faucets to Earn Free ETH in 2024

Top 5 Superior Ethereum Faucets to Earn Free ETH in 2024

July 16, 2024
Crypto Analyst Reveals Six ‘Super-Cycle’ Tokens Set to Surge by 1000x in Value

Crypto Analyst Reveals Six ‘Super-Cycle’ Tokens Set to Surge by 1000x in Value

August 16, 2024
rewrite this title XRP Bull Trap Incoming? Analyst Sees .40 Fakeout Before Painful Crash

rewrite this title XRP Bull Trap Incoming? Analyst Sees $2.40 Fakeout Before Painful Crash

June 9, 2025
rewrite this title with good SEO Seeds Of Safety: Crypto Clan Encrypts Keys Across The Globe

rewrite this title with good SEO Seeds Of Safety: Crypto Clan Encrypts Keys Across The Globe

June 9, 2025
rewrite this title and make it good for SEO”No tolerance for rioting and violence”: JD Vance supports Federal Action after LA riots

rewrite this title and make it good for SEO”No tolerance for rioting and violence”: JD Vance supports Federal Action after LA riots

June 9, 2025
rewrite this title Today's NYT Connections: Sports Edition Hints, Answers for June 9 #259

rewrite this title Today's NYT Connections: Sports Edition Hints, Answers for June 9 #259

June 8, 2025
rewrite this title Deadspin | Angels obtain LaMonte Wade Jr. from Giants

rewrite this title Deadspin | Angels obtain LaMonte Wade Jr. from Giants

June 8, 2025
Everything Announced at The Xbox Games Showcase 2025 in 16 Minutes

Everything Announced at The Xbox Games Showcase 2025 in 16 Minutes

June 8, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily 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
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.