Florida's Chief Financial Officer, Jimmy Patronis, is advocating for Bitcoin as a possible addition to the state’s retirement fund portfolio.
Patronis believes Bitcoin, as a digital asset, could diversify the state's holdings and provide a safety net against the volatility of traditional assets.
He proposed a 'Digital Currency Investment Pilot Program' within the Florida Growth Fund to explore the feasibility and benefits of investing in cryptocurrencies.
The Florida State Board of Administration is expected to deliver a report by early next year on the potential inclusion of Bitcoin in the state's pension funds.