Florida lawmakers have introduced new legislation aimed at establishing a state-run cryptocurrency reserve, signaling the state’s intention to formally integrate digital assets into its public financial strategy. The proposal follows a broader national trend driven by federal action and rising interest in Bitcoin as a strategic reserve asset.
Bills Lay Groundwork for Florida Crypto Reserve
Florida Representative John Snyder has introduced House Bill 1039 (HB 1039), which sets the foundation for creating a strategic crypto reserve at the state level. The effort is mirrored in the Senate, where Joe Gruters filed Senate Bills 1038 and 1040, proposing both the reserve itself and a dedicated trust fund to manage digital assets.
The legislation defines strict eligibility rules. To qualify for inclusion, a cryptocurrency must maintain an average market capitalization of at least $500 billion over the previous 24 months. Under current market conditions, this requirement effectively limits the reserve to Bitcoin, whose market cap remains well above $1 trillion. Other major assets, including Ethereum, fall short of the threshold.
Not Florida’s First Attempt at a Crypto Reserve
This is not Florida’s first attempt to formalize a crypto reserve. Earlier proposals, including HB 487 and SB 550, were withdrawn in May 2025 after failing to gain traction. A separate effort by Representative Webster Barnaby later that year also stalled.
Supporters of the new bills argue that the revised structure, combined with clearer federal guidance, gives the proposal a stronger chance of passage this time around.
Florida Aligns With Trump’s Federal Bitcoin Strategy
Florida’s renewed push comes amid growing momentum nationwide following an executive order signed by Donald Trump in March 2025, which established a Strategic Bitcoin Reserve at the federal level.
Several states have since followed suit. Texas became the first to fund a state-level reserve with a $5 million Bitcoin purchase, while New Hampshire passed legislation allowing up to 5% of public funds to be allocated to qualifying digital assets. Arizona has taken a narrower approach, authorizing the state to retain seized cryptocurrencies.
Florida lawmakers argue that adopting a similar strategy would help keep the state’s financial management modern, resilient, and competitive.
Bitcoin Framed as Digital Gold For Public Funds
Proponents of the Florida reserve describe Bitcoin as a store of value comparable to gold, positioning it as a hedge against inflation and long-term currency debasement. Senator Gruters has framed the initiative as a portfolio diversification strategy, designed to help Florida adapt to the evolving digital economy.
Under the proposal, the state’s crypto holdings could grow not only through direct purchases, but also via legal recoveries, revenue allocations, and blockchain-based events such as forks or airdrops.
Volatility and Risk Concerns Remain
Despite rising institutional acceptance, critics continue to raise concerns about Bitcoin’s price volatility. After reaching an all-time high above $126,000 in October, Bitcoin experienced sharp corrections before stabilizing near $90,000.
Skeptics question whether taxpayer funds should be exposed to such swings, especially in a market still transitioning out of its historically unregulated phase. Supporters counter that recent legislation, including the GENIUS Act, has brought much-needed regulatory clarity, with the proposed CLARITY Act expected to further strengthen oversight.
What Happens Next
If approved, Florida’s crypto reserve legislation would take effect on July 1, 2026, giving state agencies time to prepare the necessary custody, compliance, and risk management frameworks.
As more states experiment with Bitcoin-backed reserves, Florida’s move could place it among the leaders shaping how public-sector crypto adoption unfolds in the United States.
