Florida's Senate Bill 550 proposes allocating 10% of public funds to Bitcoin, aiming to hedge inflation and enhance financial autonomy.
Florida and North Carolina lead U.S. states in Bitcoin adoption with Senate Bill 550. Lawmakers aim to allocate public funds into Bitcoin.Introduced by Senator Joe Gruters, the bill seeks to authorize Florida to allocate up to 10% of specific public funds into Bitcoin. This positions Bitcoin as a hedge against inflation and a means of increasing financial autonomy.
North Carolina and South Dakota are also actively exploring Bitcoin investments, joining a growing list of states considering digital asset reserves. Hence, with at least 18 states currently assessing Bitcoin investments, the momentum for state-level adoption of cryptocurrency continues to build.highlights a surge in crypto usage across South America, particularly in Brazil, where digital assets are playing an increasingly prominent role in financial transactions.
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