Florida could soon join the growing list of U.S. states holding Bitcoin as part of its public funds. New bills, HB 183 and SB 1038, propose creating a Strategic Bitcoin Reserve that would allow the state to allocate up to 10% of select government funds into Bitcoin, SEC‑registered ETFs, and tokenized securities.
Introduced by Representatives Webster Barnaby and Joe Gruters, the proposals narrow the focus compared to earlier 2025 drafts, emphasizing Bitcoin and regulated crypto products. If approved, the legislation would empower Florida’s Chief Financial Officer and the State Board of Administration to manage investments from the General Revenue Fund, Budget Stabilization Fund, and the Florida Retirement System Trust Fund.
Under the plan, digital assets could be held directly by the CFO, through a licensed custodian, or via regulated exchange-traded products. The bills also open the door for residents to pay certain state taxes and fees with cryptocurrency, though all payments would be instantly converted to U.S. dollars.
Supporters highlight the move as a step toward modernizing state finances. CFO Jimmy Patronis called Bitcoin “digital gold,” suggesting that a measured allocation could diversify Florida’s public funds without taking on excessive risk. The legislation is scheduled to take effect July 1, 2026, if passed and signed into law.
Florida isn’t alone in exploring crypto reserves. Arizona, Texas, and New Hampshire enacted similar measures in 2025, following a March 2025 executive order that created a U.S. Strategic Bitcoin Reserve using forfeited assets. Advocates say Florida’s decisions could help shape broader adoption of digital assets in public finance across the country.
While still under debate, the bills reflect a growing trend of states considering Bitcoin as a hedge and store of value, bringing the idea of “digital gold” from the private sector into public finance. Observers expect the Florida legislation to spark fresh discussions on how cryptocurrencies can fit into traditional government investment strategies.
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