Florida CFO proposes including Bitcoin in state pension fund portfolio

Florida CFO Jimmy Patronis suggests that the agency that manages the state's retirement fund consider investing in Bitcoin Patronis wrote to the Florida Board of Administration (SBA) yesterday, saying: "Bitcoin, often referred to as 'digital gold', can help diversify the state's investment portfolio and provide a safe hedge against the volatility of other major asset classes." He urged the SBA to "provide a report on the feasibility, risks and potential benefits of investing part of the state retirement system funds in digital asset classes" and complete it before the next legislative session scheduled for March 4, 2025. The Florida Small Business Administration manages more than 30 funds, including the Florida Retirement System Trust Fund. As of September 30, the fund managed assets of approximately $205 billion. (Cointelegraph)