Proposed laws would allow billions in Florida retirement, other funds to be invested in risky Bitcoin



By Dan Christensen, FloridaBulldog.org

Republican legislators have filed bills that would authorize politicians and bureaucrats who oversee Florida’s General Revenue Fund, the Florida Retirement System (FRS), the Hurricane Catastrophe Fund and other huge state funds to invest up to 10 percent of their cash in risky Bitcoin and “other digital assets.”

Those public funds, which hold tens of billions of dollars, should be allowed to convert a chunk of it to Bitcoin, a highly volatile asset, as a “hedge against inflation,” according to the bills’ sponsors State Sen. Joe Gruters, R-Sarasota (SB 550) and Rep. Webster Barnaby, R-DeLand (HB 487).




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Proposed laws would allow billions in Florida retirement, other funds to be invested in risky Bitcoin
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FloridaBulldog.org
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SB 550
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HB 487
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Read More
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Judge Shull of Palm Beach family court slammed for gender bias by four angry mothers
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Broward Sheriff Gregory Tony gets nicked, but dodges another landmine. How does he do it?
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As big money flows, Boca Raton's GEO Group readies for migrant evacuation on an industrial scale
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DeSantis lost bid to kill your right to change law by ballot initiative, but he'll be back
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Support Florida Bulldog
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