Florida pushes bill to create state Bitcoin reserve

Florida lawmakers are setting ambitious goals for the upcoming legislative session, with a proposal that could make the Sunshine State one of the first in the U.S. to hold Bitcoin as a treasury reserve asset officially.

The proposed legislation, House Bill 183 (HB 183), would authorize the state’s Chief Financial Officer (CFO) to invest public funds in Bitcoin and other digital assets.

If approved, HB 183 would allow the state CFO to allocate up to 10 percent of any funds in certain state-held accounts into digital assets. The Trust Fund of the Florida Retirement System, which the State Board of Administration administers, would be subject to similar guidelines and would allow up to 10 percent investment in accordance with those criteria.

The Bill clarifies what constitutes a digital asset, such as Bitcoin or tokenized securities, but could also encompass non-fungible tokens. It also imposes tight controls on how those investments can be held and directed. Under the proposal, the money could either be held directly by a chief financial officer, placed in an account managed by a qualified custodian, or invested in SEC-registered exchange-traded funds (ETFs).

Supporters of the Bill say it is an effort to keep Florida’s financial institutions on the cutting edge and allow for insurance against inflation and loss of confidence in traditional fiat money. The law describes Bitcoin as a store of value, or a potential long-term savings vehicle for public funds, much like the way governments have used gold. If passed, the new policy will take effect on July 1, 2026.

The bill also promotes digital integration by permitting Floridians to pay some taxes and fees with digital assets. Those payments, in turn, would be automatically converted into U.S. dollars before being deposited into the state’s general fund, allowing government accounts to remain dollar-based while eliminating any rigidity that may hinder the use of cryptocurrency payments.

States rush to build Bitcoin reserves as federal momentum grows

The action by Florida also comes as several U.S. states are experimenting with how to integrate Bitcoin into their financial systems. Arizona, New Hampshire, and Texas all passed laws in early 2025 to hold Bitcoin as part of their states’ portfolios. Lawmakers in Wyoming, Oklahoma, and Missouri also introduced such proposals, with scores failing after legislative sessions concluded.

Industry observers view Florida’s proposal as a reflection of a growing state-versus-federal race to determine the future of digital finance.

If Florida’s bill passes, it could motivate other states to follow suit, particularly those with well-developed tech sectors or large cryptocurrency communities. The measure would also bolster Florida’s image as a blockchain-friendly state, following Governor Ron DeSantis’ previous efforts to ban central bank digital currencies (CBDCs) while introducing regulations that are friendly to Bitcoin.

Lawmakers weigh risks and readiness

But despite mounting excitement, critics caution that the move could subject public dollars to volatility and potential legal wrangling. The price of Bitcoin can fluctuate by more than 10% in a week, and it could put taxpayers’ money at risk if states invest in the digital currency. Several financial watchdogs have also raised concerns about whether public dollars should be invested in an asset class that is largely unregulated and vulnerable to market manipulation.

Defenders argue that Bitcoin’s long-term perspective is bullish and safe, and custody of the asset through SEC-regulated ETFs would provide sound risk management. They also contend that the small exposure, limited to 10%, will enable Florida to dip its toe in the water without risking its finances.

HB 183 is waiting for assignment to a committee in the Florida House. It will undergo hearings and debate before being moved to the Senate. If approved by both chambers, the bill would be sent to the governor for signature.

As the legislative process continues, Florida’s proposal will serve as a test case for whether digital assets can become a legitimate tool of public finance and whether U.S. states are prepared to manage Bitcoin like a sovereign wealth fund for the digital age.

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