{"id":833135,"date":"2025-03-11T08:12:10","date_gmt":"2025-03-11T13:12:10","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/11\/florida-governorship-candidate-proposes-state-bitcoin-reserve-amid-inflation-concerns\/"},"modified":"2025-03-11T08:12:10","modified_gmt":"2025-03-11T13:12:10","slug":"florida-governorship-candidate-proposes-state-bitcoin-reserve-amid-inflation-concerns","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/11\/florida-governorship-candidate-proposes-state-bitcoin-reserve-amid-inflation-concerns\/","title":{"rendered":"Florida governorship candidate proposes state Bitcoin reserve amid inflation concerns"},"content":{"rendered":"
\n

\"Florida Florida governorship candidate proposes state Bitcoin reserve amid inflation concerns<\/span> Assad Jafri \u00b7<\/span> 17 hours ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

\n
\n

Florida could consider Bitcoin as a strategic reserve like oil, offering long-term financial security, according to Byron Donalds.<\/p>\n

\n
\n

<\/a><\/p>\n<\/div>\n

\n

2 min read<\/span><\/p>\n

Updated:<\/span> Mar. 10, 2025 at 10:29 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n

\"Florida<\/p>\n

Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n

\n

Byron Donalds, a US congressman and candidate for Florida\u2019s governorship, has proposed that the state establish a Bitcoin<\/a> reserve, arguing that the digital asset could serve as a safeguard against inflation and federal monetary policy.<\/p>\n

In an interview with Fox Business on March 10, Donalds suggested that Florida should hold Bitcoin as part of its financial strategy, differentiating it from broader crypto investments.<\/p>\n

Donalds said:<\/p>\n

\n

\u201cWhat I\u2019m proposing in Florida is a Bitcoin reserve, not just a crypto reserve. Bitcoin has proven to be a holder of value over the long term.\u201d<\/p>\n<\/blockquote>\n

He pointed to Bitcoin\u2019s historical price appreciation, noting its rise from $500 in 2015 to over $80,000 today. He likened Bitcoin to gold, emphasizing its scarcity and potential role as a store of value.<\/p>\n

He also criticized the Federal Reserve\u2019s monetary policies, arguing that excessive money printing has weakened the US dollar.<\/p>\n

He said:<\/p>\n

\n

\u201cWith Congress failing to rein in spending, having a Bitcoin reserve as part of Florida\u2019s portfolio could provide long-term value.\u201d<\/strong><\/p>\n<\/blockquote>\n

Funding and implementation<\/h2>\n

When asked whether taxpayer dollars should be used to acquire Bitcoin, Donalds suggested that the reserve could be funded through existing state surpluses rather than new tax revenue.<\/p>\n

He clarified that \u201cthese aren\u2019t new tax dollars going out\u201d but did not specify how the state would make such purchases.<\/p>\n

Donalds compared the concept to pension funds investing in securities, arguing that Bitcoin, like traditional assets, has the potential for long-term appreciation. He also likened the idea to strategic reserves of oil, suggesting that holding Bitcoin could serve as a financial hedge for the state.<\/p>\n

His suggestions come amid President Donald Trump\u2019s<\/a> recent executive order to establish<\/a> both a Strategic Bitcoin Reserve and a Strategic Digital Asset Stockpile.<\/p>\n

Growing trend<\/h2>\n

Donalds\u2019 proposal follows similar moves by other states considering Bitcoin as a reserve asset. In late 2024, Pennsylvania introduced legislation to allocate up to 10% of its general and rainy-day funds into Bitcoin.<\/p>\n

More than 20 other states have also proposed similar legislation, with Texas being the furthest along in adopting it fully. Meanwhile, some states, including Utah, have decided to forgo<\/a> the reserve for now.<\/p>\n

While Florida has yet to take concrete steps toward establishing a Bitcoin reserve, Donalds\u2019 proposal signals growing interest among policymakers in digital assets as part of long-term financial planning. Whether the initiative gains traction may depend on the outcome of the state\u2019s upcoming gubernatorial race.<\/p>\n

Mentioned in this article<\/h6>\n
\n

\"XRP<\/a><\/p>\n<\/div>\n

\n
Latest US<\/span> Stories<\/h5>\n<\/div>\n
\n
Latest Bitcoin<\/span> Stories<\/h5>\n<\/div>\n
\n
\n
Latest Press Releases<\/h5>\n<\/header>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Assad Jafri<\/p>\n","protected":false},"excerpt":{"rendered":"

Florida governorship candidate proposes state Bitcoin reserve amid inflation concerns Assad Jafri \u00b7 17 hours ago \u00b7 2 min read Florida could consider Bitcoin as a strategic reserve like oil, offering long-term financial security, according to Byron Donalds. 2 min read Updated: Mar. 10, 2025 at 10:29 pm UTC Cover art\/illustration via CryptoSlate. Image includes<\/p>\n","protected":false},"author":1,"featured_media":833136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1418,66793],"tags":[],"class_list":{"0":"post-833135","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-florida","8":"category-governorship"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/833135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=833135"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/833135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/833136"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=833135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=833135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=833135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}