Florida’s elected chief financial officer and fire marshal Jimmy Patronis says his letter follows Donald Trump’s plans for a national stockpile of Bitcoin.
Florida chief financial officer Jimmy Patronis wants the agency that manages the state’s retirement funds to consider investing in Bitcoin — joining a growing number of American states adding crypto to their portfolios.
“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,” wrote Patronis in a letter to Florida State Board of Administration executive director Chris Spencer on Oct. 29.
Patronis’ letter urges the SBA to “provide a report on the feasibility, risk and potential benefits of directing a portion of state retirement system monies into digital asset classes” and to do so before the next legislation session, scheduled for March 4, 2025.
