Bitcoin Investment Recommended for Retirement Funds by US State Official
Florida Chief Financial Officer Jimmy Patronis is urging the State Board of Administration (SBA) to explore cryptocurrency investments, including Bitcoin, for state retirement funds.
In a letter dated October 29, he emphasized the need for innovative investment strategies to ensure stable returns for public service employees like firefighters, teachers, and police officers. Patronis pointed to former President Trump’s comments on a national cryptocurrency initiative and the importance of diversifying state pensions to protect against market volatility.
He proposed expanding the Florida Growth Fund with a Digital Currency Investment Pilot Program and highlighted that several states have already begun investing in cryptocurrency, calling for a detailed SBA report to guide legislative decisions.
Clever Robot News Desk 1st November 2024
