Florida CFO requests report on potential for investing some state retirement system funds into digital assets

Published On Oct 30, 2024, 2:01 PM

Florida's Chief Financial Officer, Jimmy Patronis, has requested a report on the feasibility and potential benefits of investing state retirement system funds into digital assets, particularly bitcoin. Patronis argues that investing in cryptocurrencies could help diversify the state’s investment portfolio and provide a hedge against volatility in other asset classes. He emphasizes the need to ensure good returns for state employees, including firefighters, teachers, and police officers, and mentions a digital currency investment pilot program that could be a suitable option for such innovations.