Florida, USA is expected to launch a strategic Bitcoin reserve in the first quarter of 2025

2024-12-06 08:00:15

Collection

ChainCatcher news, according to The Street, Florida is expected to launch a strategic Bitcoin reserve in the first quarter of 2025. Samuel Armes, president of the Florida Blockchain Business Association (FBBA), stated that Florida "is very likely to establish a strategic Bitcoin reserve during the upcoming legislative session (which will begin in the first quarter of 2025)."

It is reported that the plan is based on Florida's existing investments in Bitcoin and crypto-related assets, which are made through its $185.7 billion pension fund, the fourth largest pension fund in the United States. Armes mentioned, "Florida has already invested in Bitcoin and crypto-related assets through our pension fund." He suggested allocating 1% of Florida's $185.7 billion pension fund, which amounts to $1.857 billion.

(Source Link)

Related tags

Florida Bitcoin reserves pension fund

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.