Florida is moving forward with plans to potentially include Bitcoin (BTC) as part of its state reserves, with discussions centered around 2025.
Samuel Armes, President of the Florida Blockchain Business Association (FBBA), shared his optimism about the state’s chance of establishing a Bitcoin reserve as early as the first quarter of 2025.
Armes emphasized that the groundwork for this initiative is already in place, citing Florida’s existing investments in Bitcoin and crypto assets, including its pension fund. The state’s $185.7 billion retirement fund, which ranks fourth largest in the U.S., could allocate a portion to Bitcoin as an inflation hedge.
Additionally, Florida’s $116.5 billion budget surplus for fiscal year 2024-2025 could also be used for Bitcoin investments without impacting essential services.
Armes revealed that he and his organization are advocating for this bill, alongside other pro-Bitcoin legislation, in the upcoming session. The state’s proactive stance on Bitcoin investment is poised to further its position as a leader in blockchain adoption.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.
Despite common fears that global crises spell disaster for crypto markets, new data from Binance Research suggests the opposite may be true — at least for Bitcoin.
A new report by crypto analytics firm Alphractal reveals that Bitcoin miners are facing some of the lowest profitability levels in over a decade — yet have shown little sign of capitulation.