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Florida Looking To Build Strategic Bitcoin Reserve via $185,700,000,000 Pension Fund, Says Political Strategist
Samuel Armes, political strategist and president of the Florida Blockchain Business Association (FBBA) says the Sunshine State is looking to launch a strategic Bitcoin (BTC) reserve.
In a post on social media platform X, Armes says Florida will likely create its own stockpile of the leading crypto asset amid support from pro-Bitcoin leaders.
Armes says Florida can build its crypto reserve by using a small portion of the state’s pension fund, which already invests in Bitcoin and crypto-related assets.
#florida #bitcoin #reserve #pensionfund
“[We can] leverage our $185.7 billion pension fund (4th largest in the U.S.) to allocate a small percentage to Bitcoin as a hedge against inflation…Just investing ONE percent of our pension fund into Bitcoin would be $1.857 billion.”
He says Florida can also tap into its budget surplus to invest in Bitcoin without cutting essential services.
“Inflation and time will eat away at any budget surpluses we have. Investing just ONE percent of our surplus would be $1.165 billion.”
Last month, Florida chief financial officer (CFO) Jimmy Patronis said that the state government already has $800 million worth of crypto-related investments and could accumulate more.
“Crypto’s not going anywhere. It’s not going to contract. It’s going to continue to be expanding, and I think we’d be a fool if we’re not prepared to do everything we can to harness the opportunities there.”
Milady Cult Coin has conducted a total $207 million airdrop to Milady holders.
#newsonleo #crypto
Damn, that's big. Totally missed that one...
What is your take on OHM?
Hey, do mean that 3,3 game-theoretic token?
Haven't seen that ticker for a long time! I was once staking there but it went downhill when bear market began.
Those things could work during bull runs though 👍
Yes excatly. Think their idea was to draw in as much capital as possible and create something out of that. Thats why they had the crazy apy
Yeah, it only works as long as there's an uptrend and most of the users believe in growth. From my own experience, the 3,3 things eventually fall like a house of cards. Just needs a little fud and down it is!
Olympus?
RWA Sector Top Gainers
thanks for sharing
Thanks for stopping by! 👍
New Protocols
Link to the full thread on X:
CT Mindshare
Happy monday!
Let's start with some important events happening this week:
#crypto
Daniel very bullish on the next year
BTC vs. ETH vs. ALTs
This could play out...
Highest Security Scores
Solana Ready 💪
JUP proposal passed
Sectors: Memecoins about to fly? 🙂
Grayscale Assets by Sectors
Not sure the Consumer & Culture part. I wouldn't invest in Decentraland or in Sandbox. Don't see running for long.
What do you think?
Poll
Are you using portfolio trackers? Such as CoinStats, DeBank? Or just Google sheets or Notion, etc, to keep your portfolio changes updated?
👌 Been thinking about trying that out.
Interesting question:
https://inleo.io/threads/view/thelastdash/re-leothreads-ooh5kae4?referral=thelastdash
I would say its mostly young people involved because its new tech but nothing is keeping the older from learning and adapting crypto.
Yeah! I answered that thread with similar response. Crypto is still young but average user age should increase in the future as WE get old! 😀
the future of crypto is still so much bright.
I agree 💯%!
!summarize #bitcoin #michaelsaylor #crypto
!summarize #aiagents #crypto