The San Francisco Deputy Sheriffs Association (SFDSA) in the United States, announced last April that it would add bitcoin (BTC) to its current investment portfolio.
In this sense, they explained that, after a discussion by the Board of Directors, it was approved to incorporate bitcoin due to the upward trend that, in recent years , has had the cryptocurrency.
«Investing in bitcoin, for us, is a very aggressive investment in a volatile market. We carefully considered this decision and even surveyed our members to find out their opinion “, they indicated in a statement.
They assure that it was not an easy decision, but, after the vote, the majority were in favor of the SFDSA investing in bitcoin . The choice of the leading cryptoactive was made between 15 executives, of which ten members were in favor and five against.
The discussion by the members of the SFDSA took place on 14 April, the date on which BTC reached its historical maximum of USD 64,804 , and then lowered its price days later to USD 47,409.
According to the president of the SFDSA, Ken Lomba, the subsequent fall in the price of bitcoin was something that they knew how to take advantage of .
«We were lucky that there was a market correction and we were able to buy bitcoin at a lower price. I like to say discounted! “Added Lomba.
Likewise, they announced that the SFDSA non-profit charity will also accept bitcoin , dogecoin (DOGE) and other cryptocurrencies. In this way they hope to draw the attention of renowned businessmen such as Mark Cuban, owner of the Dallas Mavericks and investor in several cryptocurrencies, or Jack Dorsey, CEO of Twitter and renowned bitcoin, to donate some crypto assets to the charity, they indicated.
Among other things, the SFDSA is an organization that is in charge of identifying the needs of the police community, protecting the rights and benefits of officers, negotiating better security agreements collective bargaining with the city and improving the working conditions of security agents.
Money pension funds for police officers also rely on BTC
The members of the SFDSA are not the first in law enforcement to invest in bitcoin and other cryptocurrencies in the United States.
According to renowned bitcoin promoter Anthony Pompliano, the first to do so was the Pension Fund of Fairfax County Police.
In fact, in 2019, CriptoNoticias reported that Pompliano’s firm, Morgan Creek Digital created a venture capital fund of 40 million, in conjunction with two pension plans, among them, the Fairfax police.
