Florida's Bitcoin Reserve Bill: Aiming for Digital Gold

Florida legislators are proposing a Strategic Bitcoin Reserve, which would allow the state to allocate up to 10% of certain public funds to Bitcoin (BTC) and cryptocurrency exchange-traded funds (ETFs). This initiative also includes options for limited tax payments in crypto.

Key Takeaways

Florida is introducing a bill for a Strategic Bitcoin Reserve, allowing up to 10% of certain public funds to be invested in Bitcoin and ETFs.
The bills focus on refined digital asset categories compared to previous proposals.
Up to 10% of the General Revenue Fund, Budget Stabilization Fund, and Florida Retirement System Trust Fund could be allocated to eligible digital assets.
The legislation proposes tax payments in cryptocurrency, which must be converted to U.S. dollars.
If passed, the measures will take effect on July 1, 2026, and could influence state-level digital asset integration across the U.S.

Florida pushes Strategic Bitcoin Reserve legislation.

Proposed Legislation for a Strategic Bitcoin Reserve

The bills, HB 183 and SB 1038, were introduced by Representatives Webster Barnaby and Joe Gruters and aim to refine the categories of digital assets from earlier proposals in 2025. They focus on Bitcoin, SEC-registered cryptocurrency ETFs, and tokenized securities.

If approved, the legislation would empower the Chief Financial Officer (CFO) of Florida and the State Board of Administration to invest up to 10% of select public funds in these digital assets. The funds affected include the General Revenue Fund, the Budget Stabilization Fund, and the Florida Retirement System Trust Fund.

The proposed bills stipulate that digital assets must be held either directly by the CFO, through a licensed custodian, or via regulated products like ETFs. Additionally, Florida residents would be allowed to pay specific state taxes and fees using digital assets, although any cryptocurrency collected would be converted immediately into U.S. dollars.

If the bills are signed into law, they would take effect on July 1, 2026. Supporters of this initiative referenced a March 2025 executive order that established a U.S. Strategic Bitcoin Reserve from seized assets as a basis for these state-level measures.

Chief Financial Officer Jimmy Patronis has expressed his support for the bill, highlighting Bitcoin as “digital gold” and noting that a limited exposure to this asset could improve diversification in state-managed funds.

Florida joins other states, such as Arizona, Texas, and New Hampshire, which passed similar reserve legislation in 2025. The outcomes of Florida’s legislative efforts could significantly impact ongoing discussions regarding the integration of digital assets into public finance across the United States.