Florida Moves to Put Bitcoin on the Balance Sheet
Florida lawmakers have unveiled a bold new proposal that could make the Sunshine State the first in the U.S. to officially hold Bitcoin as a state reserve asset.
The legislation, known as House Bill 183 (HB 183), would authorize Florida’s Chief Financial Officer (CFO) to invest up to 10% of public funds in Bitcoin and other digital assets, marking a major step toward integrating crypto into public finance.
If passed, the policy would take effect on July 1, 2026, allowing select state accounts - including the Trust Fund of the Florida Retirement System - to diversify their holdings with digital assets or SEC-registered Bitcoin ETFs.
Supporters describe the bill as an effort to protect public funds from inflation and diversify reserves beyond traditional fiat currencies. Lawmakers argue that Bitcoin could serve as a modern-day equivalent of gold - a store of value for future generations.
How Florida’s Bitcoin Reserve Would Work
Under HB 183, any investment in digital assets must be securely custodied - either directly managed by the CFO, held by a qualified custodian, or invested through regulated exchange-traded funds.
The bill defines “digital assets” broadly, encompassing Bitcoin, tokenized securities, and even NFTs, though Bitcoin is expected to be the primary focus.
In a move to further embrace crypto integration, the proposal also allows Floridians to pay certain state taxes and fees using digital assets. These payments would then be automatically converted to U.S. dollars before being deposited into state accounts, ensuring that government operations remain dollar-based while allowing citizens to use crypto for convenience.
Florida Joins the State-Level Bitcoin Race
Florida’s proposed Bitcoin reserve follows similar moves by Arizona, Texas, and New Hampshire, which approved digital asset investment frameworks earlier in 2025. Wyoming, Missouri, and Oklahoma have also floated comparable proposals, though not all have made it through their legislatures.
This trend reflects a growing state-versus-federal race to shape the future of digital finance and Bitcoin-backed public policy.
Governor Ron DeSantis - a vocal opponent of central bank digital currencies (CBDCs) - has long positioned Florida as a crypto-friendly state, even signing earlier bills that protect Bitcoin users from federal overreach.
If HB 183 passes, it would reinforce Florida’s reputation as one of America’s most blockchain-progressive states and could push other regions to adopt similar treasury diversification strategies.
Critics Warn of Risks and Volatility
Despite growing enthusiasm, the proposal has sparked debate among financial watchdogs and economists.
Skeptics warn that Bitcoin’s notorious volatility - with prices often swinging 10% or more in a week - could expose taxpayers’ money to unnecessary risk.
Others have questioned the legal framework and regulatory uncertainty surrounding digital assets, arguing that government-held Bitcoin could become a target for cybercrime or market manipulation.
Proponents counter that strict ETF-based custody would mitigate risk and that the 10% cap provides a measured entry into the space.
Florida’s Bitcoin Bill Faces Its First Test
HB 183 is currently awaiting committee assignment in the Florida House. It will undergo hearings and debate before advancing to the Senate. If approved by both chambers, it will then be sent to the Governor’s desk for final signature.
Lawmakers and crypto advocates alike are watching closely. If successful, the move could set a national precedent - one where Bitcoin becomes part of a state’s financial backbone, just as gold once was.
