States could see a crypto policy blitz in 2025; will R.I. buy in?

Christopher Allen

01/03/2025

ADVISING CAUTION: Sen. Louis P. DiPalma, D-Middletown, says the state shouldn’t jump into buying crypto-related investments for public pension funds and treasuries even though other states are becoming more open to it.  COURTESY CAPITOL TV

If the R.I. State Investment Commission, which manages the state’s $11 billion public retirement system, had a crystal ball in 2019, it could have invested in bitcoin and enjoyed a 300% return in 2020 and another doubling up by early 2021. But if it stayed in any longer, the initial investment would have mostly evaporated.

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