Florida to Create bitcoin Strategic Reserve in Q1 2025
In a groundbreaking move, Florida is planning to allocate a portion of its pension funds or budget surplus to bitcoin in the first quarter of 2025. The state aims to create a strategic bitcoin reserve, with the Speaker of the Florida House and the President of the Senate showing strong support for the popular cryptocurrency.
Political strategist Samuel Armes revealed that Florida could leverage its $185.7B pension fund by allocating a small percentage to bitcoin, providing protection against inflation. Another option involves using the $116.5B budget surplus to establish a bitcoin strategic reserve, without compromising essential services.
The potential approval of this initiative seems promising, as key figures in the Florida government, such as Speaker Danny Perez and President Ben Albritton, have previously championed a pro-bitcoin agenda.
In light of rising inflation rates, companies are also considering diversifying their assets by investing in bitcoin. Recent proposals by Amazon shareholders to allocate a portion of assets to bitcoin highlight the growing trend of institutional and corporate adoption of the digital currency.
As bitcoin continues to gain traction, with a 3% surge in the last 24 hours, the establishment of a bitcoin strategic reserve by the US government in 2025 could mark a significant milestone in the mainstream acceptance of cryptocurrencies.