The post Florida CFO Backs Trump’s Bitcoin Reserve Idea in New Letter appeared on BitcoinEthereumNews.com.

Florida Chief Financial Officer Jimmy Patronis recently sent a letter to the Florida State Board of Administration, pushing for the creation of a “strategic Bitcoin reserve,” previously announced by former President Donald Trump. Patronis also encouraged the state to invest pension funds in Bitcoin. This move places Florida at the forefront of crypto adoption among U.S. states, following similar actions by Wisconsin, Michigan, and Arizona. Florida State Treasurer’s Pro-Bitcoin Move In the letter addressed to Chris Spencer, Executive Director of the Florida State Board of Administration, Patronis emphasized Florida’s economic strength and innovative spirit. “Florida’s economy is in its prime, with a Triple A bond rating for the fifth year in a row, record reserves, and we are outpacing the country in nearly every key economic metric,” Patronis stated. He added that Florida would rank as the 16th largest economy worldwide if it were a sovereign nation. Patronis cited recent comments from Republican Donald Trump at the Bitcoin 2024 convention, where Trump suggested the establishment of a “national stockpile of cryptocurrency.” The proposed national stockpile, according to Trump, would be filled using crypto assets seized in law enforcement actions. He believes this move would help secure the United States’ position as a global crypto leader. Moreover, Patronis called Trump’s ideas “forethought and innovative thinking from a successful businessman” that should not be overlooked. Highlighting Governor Ron DeSantis’ stance on crypto, Patronis noted the Governor’s efforts to shield Floridians from Central Bank Digital Currencies (CBDCs). In addition, he described crypto as “the antithesis of a central currency.” BREAKING: Florida Treasurer Jimmy Patronis makes history with letter endorsing a ‘Strategic Bitcoin Reserve’ – Pushes state pensions to add Bitcoin. This is a massive move for Bitcoin in the USA. We @SatoshiActFund are proud to have our work in Arizona cited in this…

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Filed under: News - @ October 29, 2024 9:25 pm