Florida Considers Including Bitcoin in State Reserves by 2025.
New York - By Jae-Hyung Park, Special Correspondent: The state of Florida is discussing plans to include Bitcoin (BTC) in its state reserves by 2025, aiming to fortify its leading position within the blockchain industry.
According to foreign media reports on the 6th (local time), Samuel Armes, President of the Florida Blockchain Business Association (FBBA), expressed optimism about the possibility of establishing Bitcoin reserves by the first quarter of 2025. Armes highlighted that groundwork for this plan is already underway, citing existing state investments in Bitcoin and other cryptocurrency assets as its foundation.
Florida's $185.7 billion pension fund ranks as the fourth-largest in the United States. Armes mentioned the potential allocation of a portion of this fund to Bitcoin as a hedge against inflation.
Additionally, it is noteworthy that part of the state's $116.5 billion budget surplus for the 2024-2025 fiscal year could be directed towards Bitcoin investments. This investment strategy would be pursued in a manner that does not impact core public services.
Armes stated that he plans to proactively propose pro-Bitcoin legislation, including the Bitcoin reserve bill, to the Florida legislature. These efforts underscore the state government's determination to establish Florida as a leading region for blockchain technology and cryptocurrency adoption.
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