Congressman Byron Donalds discusses the idea of creating a Bitcoin reserve for the state of Florida in a Fox Business interview. He believes that Bitcoin, as a holder of value over the long term, could provide stability for the state’s finances. Donalds compares Bitcoin to gold in terms of its ability to retain value, especially as the Federal Reserve continues to print more dollars, diminishing their value over time.
He argues that just like states hold a portfolio of securities and pension funds to outstrip inflation and tax policy, a Bitcoin reserve could provide similar benefits. Donalds also mentions that the fixed amount of Bitcoin in circulation could create evaluation that is beneficial for Florida and the United States.
Regarding funding for the Bitcoin reserve, Donalds suggests using surplus taxpayer dollars or a portion of investments made for pensions. He emphasizes the importance of ensuring Florida’s financial stability in the face of potential federal spending issues. Finally, he touches on the current political situation and predicts that the CR bill will pass, allowing for the continuation of government operations.
