CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
BitcoinSistemi 2024-12-06 11:09:07

Another US State May Accept Bitcoin as a Reserve Asset!

While Bitcoin (BTC) and cryptocurrency moves continue to come from US states after Donald Trump was elected president, the latest step came from Florida. At this point, it was claimed that Florida could also invest in Bitcoin as a reserve asset in the first quarter of 2025. Florida Blockchain Business Association (FBBA) President Samuel Armes said in a post that Florida has a “very good chance of establishing a strategic Bitcoin reserve” during the legislative session that begins in the first quarter of 2025. Samuel Armes noted that the basis for this move is based on Florida’s existing investments in Bitcoin and cryptocurrency-related assets. Florida has previously invested in Bitcoin and cryptocurrency-related assets through its pension fund. “Florida has a very good chance of establishing a strategic Bitcoin reserve this session, which will begin in the first quarter of 2025. Here are some of the ways we can implement the Strategic Bitcoin Reserve in Florida: 1) Use our $185.7 billion retirement fund (4th largest in the US) to allocate a small percentage to Bitcoin as a hedge against inflation. But just to note, Florida already has investments in Bitcoin and cryptocurrency-related assets through our retirement fund. 2) Use our budget surplus ($116.5 billion in FY2024-25) to invest in BTC without cutting essential services. My organization will be pushing this bill hard, along with approximately three other pro-Bitcoin bills, this legislative session.” *This is not investment advice. Continue Reading: Another US State May Accept Bitcoin as a Reserve Asset!

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.