Florida Senator Joe Gruters has introduced a bill advocating for the investment of part of the state's funds in Bitcoin and other digital assets as a strategy to combat rising inflation. He emphasized that such tools are necessary for the state to protect against declining purchasing power. Major asset management firms are already adopting Bitcoin as a hedge against inflation, reinforcing his argument. Gruters suggests allowing the state’s chief financial officer to invest Bitcoin in various funds while capping holdings in any account at 10%. This proposal aligns with legislative trends in other US states, including a similar bill from Kentucky seeking to establish a Bitcoin reserve. Gruters remarked that Bitcoin, likened to 'digital gold,' could diversify the state's portfolio and mitigate the volatility inherent in other asset classes.

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