The post Florida Crypto Investments Reach $800M, Says CFO Jimmy Patronis appeared on BitcoinEthereumNews.com.

Key Points: Florida Crypto Investments Reach $800M as CFO Advocates for More Patronis suggests directing state pensions into Florida crypto investments. Florida’s CFO Jimmy Patronis revealed that the state holds approximately $800 million in Florida crypto investments. He suggests that Florida should consider allocating a portion of its pension funds into cryptocurrency. Florida Crypto Investments Reach $800 Million Strategy Unveiled He even went as far as to announce that the state has invested close to $800 million into crypto-related assets, a bold step to attune state finances with growing technology. Very recently, Patronis said such investments are likely to increase, especially if former President Donald Trump- known for his several pro-crypto statements-gets re-elected. He wants some sort of set of state pension funds of Florida to be invested into cryptocurrency because it meets his belief that digital assets would serve as a strategic hedge for the state, according to The Block. Patronis also touched on Florida’s interest in protecting itself from possible overreach by the federal government with a centralized currency. He has expressed an objective of trying to help Florida maintain financial independence with some diversification into digital assets of state funds. He cited a national crypto stockpile proposed by Trump as inspiration. In return, Florida would become one of the few states that are actively trying to bring crypto into the fold in regards to state assets, joining Wisconsin and Jersey City studying crypto as an alternative avenue of investment. Read more: Bittrex Faces Challenge From Florida Authorities With Pre-Bankruptcy Claims How Florida Crypto Investments Reflect a Shift in State Finances Jimmy Patronis, CFO of Florida recently disclosed that the state’s portfolio holds about $800 million in crypto-related investments- something no state has ever done in the handling of its assets. Patronis is super friendly toward cryptocurrency, saying…

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Filed under: News - @ November 1, 2024 2:21 am