Florida Introduces Bill Allowing State Funds to Hold Bitcoin

Florida lawmakers have introduced new bills that could allow the state to hold Bitcoin as part of its public funds. The proposal would let Florida set up a Strategic Cryptocurrency Reserve. With invest a small share of public money into Bitcoin and related products. 

Supporters say the move could help Florida protect public funds over the long term. Critics, however, warn about Bitcoin’s price swings. For now, the idea is back on the table and moving through the early stages of the 2026 lawmaking session.

What the New Bills Propose

The plan appears in two bills. These are Senate Bill 1038 and House Bill 1039. Together, they would create what senators call the Florida Strategic Cryptocurrency Reserve. This reserve would sit outside the main state treasury and would be managed separately.

Under the proposal, up to 10% of certain public funds could be invested in Bitcoin. This includes funds linked to pensions and other large state accounts. The bills also allow the use of approved Bitcoin exchange-traded funds or ETFs.

The Chief Financial Officer would manage the reserve. But buying Bitcoin would not be automatic. The bills require clear rules, reporting and oversight. An advisory committee would also be formed to review decisions and risks.

Why Lawmakers Are Pushing This Idea

Supporters of the bills describe Bitcoin as a modern version of digital gold. They argue it could help protect state funds from inflation over time. One of the sponsors, Senator Joe Gruters, has backed similar ideas before. He says the state should prepare for a changing financial system.

This push comes after the 2024 elections. Which brought more attention to digital assets across the U.S. At the federal level, earlier steps to recognize Bitcoin as a reserve asset have also encouraged states to explore similar options.

Florida lawmakers say the goal is not short-term profit. Instead, they frame the reserve as a long-term hedge and a way to diversify public holdings.

A Growing Trend Across U.S. States

Florida is not alone, other states have already moved in this direction. Texas approved a small Bitcoin purchase in late 2025. New Hampshire lawmakers passed a law that allows fund managers to invest up to 5% of certain funds in Bitcoin. Arizona has also explored holding crypto from seized assets.

If Florida passes this bill, it would join a growing list of states treating Bitcoin as a serious financial tool. Some analysts believe this could lead to steady buying pressure over time. Rather than sudden market moves.

What Happens Next

Right now, the bills are only filed. They still need to pass committee reviews and full votes. If passed, the legislation would take effect on July 1, 2026. If that happens, Florida could eventually manage billions of dollars with Bitcoin exposure. Whether this becomes a model for other states will depend on how the debate unfolds in the coming months.