Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Florida to invest $1.85B from pension fund in Bitcoin

Source Cryptopolitan

Florida plans to invest $1.85 billion from its pension fund into Bitcoin to take the lead in using cryptocurrency, with support from state leaders and the Florida Blockchain Business Association.

Florida is planning to invest $1.85 billion from its state pension fund into Bitcoin, aiming to lead in cryptocurrency adoption. Backed by the Florida Blockchain Business Association (FBBA) and pro-crypto leaders, this move could change how states use digital assets in their financial plans.

Florida to invest $1.85 billion in Bitcoin

Florida’s $185.7 billion pension fund, the fourth largest in the U.S., has already invested in crypto. Samuel Armes, head of the FBBA, suggests using 1% of the fund to create a Bitcoin reserve, offering financial diversity and exposure to the growing crypto market.

With a $116.5 billion budget surplus expected in 2024-2025, allocating 1% (about $1.16 billion) could further boost Florida’s role in Bitcoin adoption.

Florida is going to launch a strategic Bitcoin reserve, and here’s how we’re going to do it 👇

Florida has a very good chance of creating a strategic Bitcoin reserve this session, which starts in Q1 of 2025.

Here’s what you need to know:

The Speaker of the Florida House, Danny… pic.twitter.com/JJRNU1V7ZI

— Samuel Armes (@samuelarmes) December 3, 2024

Governor Ron DeSantis and other influential state leaders have played a pivotal role in advancing Florida’s crypto initiatives.

State officials, including Florida House Speaker Danny Perez and Senate President Ben Albritton, have actively supported Bitcoin-focused legislation to protect the state from the potential negative impacts of CBDCs.

Florida crypto investments

Florida has been interested in crypto for some time, already holding $800 million in crypto investments. CFO Jimmy Patronis has encouraged pension fund managers to consider adding Bitcoin to the state’s investment portfolio, stressing the importance of preparing for the growth of digital currencies.

“Crypto’s not going anywhere. It will continue expanding, and we’d be foolish not to harness its opportunities there,” said Patronis.

Florida’s plan fits into a larger trend in the U.S. to include Bitcoin in financial systems. President-elect Donald Trump has promised to keep the U.S. government’s Bitcoin holdings, worth about $20 billion, showing support for the cryptocurrency sector.

Florida’s plan to invest in Bitcoin has raised some concerns. Critics like Charles Bobrinskoy from Ariel Investments call Bitcoin a “momentum-driven bubble” and warn about its unstable price and lack of real value. However, Florida believes Bitcoin can be a good long-term investment and a safer option against traditional financial risks.

If Florida’s plan works, it could make the state a leader in using digital assets in state investments. This could encourage other states to invest in Bitcoin as well.

Florida’s $1.85 billion Bitcoin investment from its pension fund marks a major step in state-level crypto adoption. Backed by strong political support, it signals a shift toward blockchain technology in government investments.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Meta's AI bill just hit $145 billion — and it issued a new share class to pay for it Meta reported record third-quarter revenue of $64.60 billion, up 26% from a year earlier, and raised full-year 2026 capital expenditure guidance to $135-145 billion from $130-145 billion. To fund that build-out without touching Mark Zuckerberg's voting control, the company announced a 2-for-1 stock split that hands every Class A holder a new non-voting Class C share. Here are the four lines that matter, the peer group that is being re-rated alongside it, and the bull and bear cases.

Author Irene Q.

Oct 22, Thu

Meta reported record third-quarter revenue of $64.60 billion, up 26% from a year earlier, and raised full-year 2026 capital expenditure guidance to $135-145 billion from $130-145 billion. To fund that build-out without touching Mark Zuckerberg's voting control, the company announced a 2-for-1 stock split that hands every Class A holder a new non-voting Class C share. Here are the four lines that matter, the peer group that is being re-rated alongside it, and the bull and bear cases.

The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hike A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Author Irene Q.

Oct 22, Thu

A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Gold falls to two‑month low below $4,050 as oil spikes Gold price (XAU/USD) falls to the lowest in more than two months near $4,025 during the early Asian session on Friday. The precious metal faces some selling pressure as escalating tensions in the Middle East send oil surging ahead of a Federal Reserve (Fed) policy meeting.

Author FXStreet

Oct 23, Fri

Gold price (XAU/USD) falls to the lowest in more than two months near $4,025 during the early Asian session on Friday. The precious metal faces some selling pressure as escalating tensions in the Middle East send oil surging ahead of a Federal Reserve (Fed) policy meeting.

Nasdaq closes at 26,008.86 — 8.9 points above 26,000, and the credit market never blinked The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Author Irene Q.

Oct 23, Fri

The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Brent tops $113 on Saudi supply risk — but the diesel line in the EIA report is the tell Brent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.

Author Irene Q.

Oct 23, Fri

Brent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.

Popular Symbols