Florida’s Chief Financial Officer, Jimmy Patronis, revealed that the state has around $800 million invested in crypto-related assets. Speaking to CNBC, Patronis hinted that this amount could rise if former President Donald Trump returns to office, as Trump has proposed building a national “crypto stockpile” focusing on Bitcoin. Patronis also suggested putting some of Florida’s retirement funds into crypto, joining states like Wisconsin and cities like Jersey City exploring crypto investments. He sees crypto as a hedge against federal control, adding urgency as China’s role in crypto grows.

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