On April 14, 2021 the San Francisco Deputy Sheriffs’ Association made the decision to invest into Bitcoin. Our Board of Directors discussed investing into Bitcoin as an asset in addition to our current investment portfolio. Currently the SFDSA has successfully invested by building all weather portfolios but we have noticed a raising trend towards crypto currency.
Investing into Bitcoin, for us, is a very aggressive investment in a volatile market. We took careful consideration into this decision and even surveyed our membership for their opinion. It was a tough decision for our members but with a slight margin the majority was in favor of the SFDSA investing into Bitcoin.
On April 14th, the majority of our board of directors were in favor of investing into Bitcoin as well. Ten of our board of directors were in favor of it and 5 were against it. The President of the San Francisco Deputy Sheriffs’ Association Ken Lomba said, “At that time Bitcoin was approximately $63,000 dollars per Bitcoin. We were lucky that a market correction occurred and we were able to buy Bitcoin at a lower price. I like to say at a discount!”
Soon the San Francisco Deputy Sheriffs’ Association charitable non profit Protecting San Francisco will be accepting Bitcoin, Dogecoin and other crypto currencies as donations. If Elon Musk “Owner of Tesla”, Jeff Bezos “Owner of Amazon”, Mark Cuban “Owner of the Dallas Mavericks” and Jack Dorsey “Owner of Twitter” would like to donate crypto currency to Protecting San Francisco a charitable 501(c)3 organization we will be ready.