Florida lawmakers have introduced measures HB 183 and SB 1038 to create a Strategic Bitcoin Reserve. This would allow up to 10% of certain public funds to be invested in Bitcoin and other comparable assets.
Representatives Webster Barnaby and Joe Gruters are behind the initiatives, which aim to invest in Bitcoin, SEC-registered cryptocurrency ETFs, and tokenised assets through the General Revenue Fund, Budget Stabilisation Fund, and Florida Retirement System Trust Fund.
The structure is based on a government executive order from March 2025 that created a U.S. Strategic Bitcoin Reserve from assets that were lost.
Jimmy Patronis, the State Chief Financial Officer, supports the plan. He has called Bitcoin “digital gold” in public speeches and said that limited exposure makes portfolios more diverse during periods of inflation.
The CFO would hold assets directly through registered custodians or through regulated products like ETFs. The bills also allow people in Florida to pay certain state taxes and levies with digital assets, which are instantly converted to U.S. dollars upon receipt.
Reduced The Range of Previous Proposals
These laws improve on earlier 2025 drafts that sought to include a wider range of digital assets, such as NFTs, but were put on hold due to concerns about scope and risk.
The new versions focus only on Bitcoin-related holdings and exclude unstable options to prioritize stability and compliance with the rules. If passed, the reserve would be overseen by the CFO and the State Board of Administration, effective July 1, 2026.
Florida is behind states like Arizona, Texas, and New Hampshire, which set up similar reserves in 2025. Supporters say that Bitcoin’s limited supply and ability to act as a hedge make it a good choice for long-term public finance. This could lead to additional jurisdictions adopting it.
The law requires structured custody and the prompt conversion of tax payments into cash, striking a balance between innovation and fiscal responsibility.
Adoption on The State Level is Picking up Speed
Patronis talked about how Bitcoin is used in modern treasury management and said that “a small amount of exposure could help diversify the state’s investment portfolio.” This effort shows that Republicans are excited about cryptocurrencies as a reserve asset, not as a way to trade.
Florida’s proposals might spark a movement across the country as more public funds consider digital assets. This will depend on debates and approvals in the 2026 session.
Legislative coverage doesn’t include any quotations from outside analysts other than Patronis, although state records show that the laws are in line with federal precedent. Outcomes may affect how Bitcoin is integrated into U.S. public finance, comparing the benefits of diversification against the hazards of volatility.
