Lawmakers in Tallahassee are revisiting how Florida manages public money, with a fresh proposal that explicitly references Bitcoin as part of a broader digital asset strategy.
New bills outline a Strategic Cryptocurrency Reserve
Two measures, Senate Bill 1038 and House Bill 1039, would create a new vehicle called the Florida Strategic Cryptocurrency Reserve. Together, they outline a separate pool of assets that would sit outside the main state treasury but still be owned by the public.
Under the proposal, up to 10% of designated public funds could be allocated to Bitcoin and related products. Moreover, this cap would apply to specific pools, including pension-linked funds and other large state-managed accounts that hold long-term savings.
The legislation also authorizes the use of approved Bitcoin exchange-traded funds (ETFs). However, it does not mandate direct on-chain coin custody, giving the state scope to use regulated financial instruments where appropriate.
Governance, oversight and risk controls
The state Chief Financial Officer would oversee the reserve and be responsible for day-to-day allocation decisions. That said, the bills stress that any acquisition of Bitcoin would remain discretionary rather than automatic.
The text requires formal investment policies, detailed reporting schedules and ongoing oversight mechanisms. Moreover, an advisory committee would be created to review strategy, assess risks and provide guidance on market conditions and regulatory developments.
This framework is designed to address concerns about Bitcoin’s price volatility, while still allowing Florida to experiment with a limited exposure model inside a controlled governance structure.
Why Florida lawmakers want Bitcoin exposure
Backers of the measures often compare Bitcoin to a modern form of digital gold. They contend it could serve as a long-term hedge against inflation and monetary debasement, especially for pools of capital that already have multi-decade horizons.
One key sponsor, Senator Joe Gruters, has championed similar initiatives in previous years. Moreover, he argues that the state should prepare for a financial system where digital assets, including Bitcoin, play a larger structural role alongside traditional bonds and equities.
The proposal follows the 2024 election cycle, which increased national attention on digital assets across the United States. At the federal level, prior steps toward recognizing Bitcoin as a potential reserve asset have encouraged states to explore their own frameworks for public treasury allocation.
Supporters emphasize that the Florida bitcoin initiative is framed as a diversification tool, not a speculative bet. However, critics highlight historical price swings and warn that taxpayers could face losses if the market enters a prolonged downturn.
Part of a broader U.S. state-level trend
Florida would not be the first U.S. jurisdiction to formalize exposure to Bitcoin within public financial structures. In late 2025, Texas approved a small state-level purchase that effectively treated the asset as part of a broader treasury strategy.
Furthermore, New Hampshire passed a law allowing fund managers to invest up to 5% of certain portfolios in Bitcoin. This move signaled that some states are willing to codify digital asset exposure inside traditional investment policies for public funds.
Arizona has taken a different path, exploring how to hold crypto derived from seized assets. That said, all of these steps point to a gradual normalization of Bitcoin as a financial instrument at the state level rather than a niche speculative asset.
If Florida enacts its cryptocurrency reserve bill, it would join this emerging bloc of jurisdictions treating Bitcoin as a strategic asset. Some analysts argue that a patchwork of such programs could create steady, programmatic buying flows, rather than one-off spikes, in the broader market.
Next steps in the 2026 legislative session
For now, the two bills have simply been filed for consideration in the 2026 lawmaking session. They must still advance through committee hearings, where testimony from economists, risk managers and industry experts is expected to shape amendments.
After committee review, both Senate Bill 1038 and House Bill 1039 would require majority approval in floor votes. Moreover, the governor’s signature would be necessary before any Strategic Cryptocurrency Reserve could be formally established.
If the measures pass in their current form, the legislation would take effect on July 1, 2026. Over time, that could allow Florida to manage a portfolio with potential Bitcoin exposure measured in the billions of dollars, depending on market prices and allocation choices.
Ultimately, whether Florida’s approach becomes a model for other states will depend on the political debate and market performance in the coming years. However, the current bills clearly mark another step in integrating digital assets into mainstream public finance policy.
In summary, Florida is positioning itself to experiment with a tightly governed Strategic Cryptocurrency Reserve, balancing innovation in public fund management against the well-known risks of volatile digital markets.