In a bill introduced on Friday by Senator Joe Gruters, Republican of Florida, that would allow the state to invest in bitcoin and other cryptocurrencies, the senator proposed allowing Florida's chief financial officer to use public funds "to invest in bitcoin and other digital assets for a purpose", according to documents. In October, Jimmy Patronis, Florida's chief financial officer, said the state held about $800 million in "cryptocurrency-related" investments. He has also said that the amount of money invested in cryptocurrencies in the state could increase if Donald Trump is elected president, and the new bill calls for Florida's chief financial officer to "not invest more than 10% of the total funds in any account in Bitcoin." Some of the public funding sources mentioned in the bill could be used to invest in bitcoin, including general income funds, budget stabilization funds, trust funds "and all institutional funds of state agencies and the judiciary."