-
Florida revives Strategic Bitcoin reserve plan, allowing funds to be allocated up to 10%.
-
The bills HB 183 & SB 1038 allow public funds to invest in Bitcoin & ETFs.
-
Florida’s not the only US state that is looking to use cryptocurrency for its government finances.
Florida lawmakers have re-introduced and expanded a proposal for a Strategic Bitcoin Reserve. The state could invest up to 10% in Bitcoin and related products including Bitcoin ETFs registered with the SEC and other digital assets. This follows a similar but unsuccessful attempt last year.
If the Florida bills (HB 183 and SB 1038), come into effect, they would give the state’s leaders the power of putting important public funds such as the general fund, emergency savings and state pension fund in approved digital assets, like Bitcoin and Bitcoin-ETFs.
The state can hold assets directly, or use approved third-party custodians. It can also invest in regulated funds. Webster Barnaby introduced HB 183, while Senator Joe Gruters introduced the Senate version of the bill SB 1038. The bill focuses on only cryptocurrencies with a market value of over $500 billion. This currently means Bitcoin.
A Rising Trend among US States
Florida isn’t alone in the US when it comes to using cryptocurrency for its government finances.
New Hampshire, for example, became the first state in the country to legalize Bitcoin reserves investments. This allowed funds to be invested into digital assets with a high enough market value (basically Bitcoin and other top-tier cryptocurrency). The Texas House also passed a Strategic Bitcoin Reserve Bill in 2025.
Arizona made progress on similar bills, but faced political challenges including vetoes. Other states such as North Carolina and Oklahoma, Montana and Pennsylvania have rejected or stopped crypto treasury attempts.
On the federal level, proposals such as the BITCOIN act of 2025 seek to establish a US Strategic Bitcoin Reserve. This could help coordinate efforts between states and treat Bitcoin like a strategic asset. It was introduced last March and is still going through the legislative process.
As usual, both supporters and opponents of the bills are present. Critics claim that crypto’s price fluctuations and unclear rules make it too risky for long-term investments and pensions. Supporters, however, say that using approved ETFs or secure storage providers can solve the main concerns regarding safety and operation.
Related:Senator Lummis questions why US Gov liquidates bitcoin despite Reserve order
This site is for entertainment only. Click here to read more
