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Author: Admin | 2025-04-28
Last updated: December 6, 2024 11:30 EST Julia Smith Author Julia Smith About Author Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News. Last updated: December 6, 2024 11:30 EST Why Trust Cryptonews Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews Florida is preparing to potentially launch a statewide Bitcoin reserve in early 2025, according to Samuel Armes, President of the Florida Blockchain Business Association (FBBA), who shared the update earlier this week. Armes outlined his vision for the initiative, which includes leveraging both Florida’s pension fund and budget surplus to create a substantial cryptocurrency reserve.Samuel Armes Pushes for Florida Bitcoin Reserve in 2025In a December 3 X post, Armes proposed that allocating just one percent of Florida’s $185.7 billion pension fund into Bitcoin could yield a $1.857 billion reserve.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, 2024He clarified that Florida has already invested in cryptocurrency-related assets through its pension fund.“To be clear, Florida has already invested in Bitcoin and crypto-related assets through our pension fund,” said Armes. “The pension allocates its funds to hedge funds, and some of those hedge funds have bought various stocks in the Bitcoin space (miners, MSTR, Coinbase as examples) while also buying liquid tokens,” he added.Armes further suggested that
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