CryptoMediaClub
Sunday, July 27, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Florida Could Launch Statewide Bitcoin Reserve by Q1 of 2025, Samuel Armes Says

06.12.2024
A A
0
120
VIEWS
ShareShare

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 2025

In 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, 2024

He 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 Florida could allocate one percent of its $116.5 billion budget surplus—equivalent to $1.165 billion—toward Bitcoin investments.

He expressed confidence in the state’s legislative landscape, stating, “My organization will advocate strongly for this, alongside three additional pro-Bitcoin bills in the upcoming legislative session.”

Pro-Bitcoin Leadership and Market Momentum

Florida currently possesses a number of key state leaders who are pro-Bitcoin and could help push a Bitcoin reserve bill into reality, including Speaker of the House Danny Perez and Senate President Bill Albritton.

Governor Ron DeSantis has also been a staunch defender of Bitcoin, particularly against the prospect of a central bank digital currency (CBDC).

“Unaccountable institutions cannot impose a CBDC on Americans,” he said in an April 2023 X post. “They will tell us that CBDC won’t be abused but we are wise enough to know better.”

Senator Cynthia Lummis (R-WY), a long-time advocate for a national Bitcoin reserve, appeared to endorse Florida’s potential initiative.

States are the incubators of great ideas. It’s a race to the top and welcome the friendly competition.
🇺🇸 https://t.co/7eqN9JlQq8

— Cynthia Lummis 🦬 (@CynthiaMLummis) December 4, 2024

“States are the incubators of great ideas,” Lummis said in a December 4 X post. “It’s a race to the top, and we welcome the friendly competition.”

Bitcoin’s recent market performance has added momentum to the conversation.

The cryptocurrency surpassed the $100,000 mark this week, buoyed by growing mainstream adoption and the approval of several spot Bitcoin ETFs by the U.S. Securities and Exchange Commission earlier this year.

President-elect Donald Trump has also contributed to Bitcoin’s rising prominence, having pledged to establish a national Bitcoin stockpile over the summer.

However, states like Florida may move ahead first, setting the stage for decentralized adoption at the state level.

As Bitcoin continues to gain traction, Florida’s efforts to establish a cryptocurrency reserve could serve as a blueprint for other states considering similar initiatives.

Whether through pension funds, budget surpluses, or legislative support, the Sunshine State is positioning itself as a key player in the growing Bitcoin economy.

The post Florida Could Launch Statewide Bitcoin Reserve by Q1 of 2025, Samuel Armes Says appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

What if Strategy Had Invested in XRP Instead of Bitcoin? 
All news

What if Strategy Had Invested in XRP Instead of Bitcoin? 

27.07.2025
0

Strategy (formerly known as MicroStrategy) has been on a wild ride these past few years — defying naysayers by persevering...

Read moreDetails
Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

27.07.2025
After the Passage of the Genius Act, ALL4 Mining and XRP Will Help Investors Open a New Chapter in Mining Income

After the Passage of the Genius Act, ALL4 Mining and XRP Will Help Investors Open a New Chapter in Mining Income

27.07.2025
Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

27.07.2025
Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

27.07.2025
Load More
Next Post
“Bitcoin Price Will Even Reach Seven Figures” – Bitcoin Suisse Founder

“Bitcoin Price Will Even Reach Seven Figures” – Bitcoin Suisse Founder

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin white paper turns 15 as Satoshi Nakamoto’s legacy lives on

Bitcoin white paper turns 15 as Satoshi Nakamoto’s legacy lives on

2 years ago

Only 5.8% of BTC in Circulation Sits on Exchanges But Bitcoin Price Struggles: Santiment

2 years ago

France to develop local metaverses against global giants

2 years ago
BABYDOGE Builds a Chance of Being in Demand, How?

BABYDOGE Builds a Chance of Being in Demand, How?

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

How Little Pepe’s Layer 2 Chain Changes Meme Coin Hype, Raises $5 Million in Presale

El Salvador’s Bitcoin Strategy Faces IMF Hurdles and Limited Public Reach, Says NGO

Solana Price Prediction: Key Technical Formation Signals Major Upside Potential for SOL

Dragonfly Capital Faces Potential Charges Over Tornado Cash Ties, Vows to Fight Back

Trending

What if Strategy Had Invested in XRP Instead of Bitcoin? 
All news

What if Strategy Had Invested in XRP Instead of Bitcoin? 

27.07.2025
0

Strategy (formerly known as MicroStrategy) has been on a wild ride these past few years — defying...

Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

27.07.2025
After the Passage of the Genius Act, ALL4 Mining and XRP Will Help Investors Open a New Chapter in Mining Income

After the Passage of the Genius Act, ALL4 Mining and XRP Will Help Investors Open a New Chapter in Mining Income

27.07.2025
Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

27.07.2025
Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

27.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz