Florida lawmakers are reviving a campaign to add bitcoins to the state’s financial statements. A new bill has been filed for 2026 that creates a reserve of cryptocurrency managed by the government.
House Bill 10,39, introduced by Republican Rep. John Snyder Jan. 7, would set up a Strategic Cryptocurrency Reserve Fund outside Florida’s principal treasury.
You can also find out more about the following: proposal The state chief financial officer is authorized to invest in digital assets, subject to a number of safeguards including audits, reporting obligations, and advisory supervision.
This bill is more of a reset than a fresh start. Florida lawmakers floated In 2025 there were plans to expand crypto-investment, but these proposals have been withdrawn due to opposition over the scope and risk.
The new framework shrinks its focus, and it reflects the preference of Republican lawmakers to view bitcoin more as an asset that can be used for reserve purposes rather than just speculative trading.
The CFO will have the discretion to decide whether or not to invest. This bill doesn’t mandate any minimum investment.
Previous versions of Florida The legislation allowed up to 10% (of certain funds managed by the state) to be invested into bitcoin. The new bill does revive this concept but leaves the deployment decision to the CFO. It also places the reserve outside of pensions and retirement funds.
It also includes recommendations for the formation of an advisory board to help guide risk management and investment strategies. The supporters of the legislation say that these provisions were designed to alleviate concerns over volatility, while still allowing for state flexibility.
It is important to note that the renewed efforts are closely linked with parallel legislation introduced by Senators. Republican Senator Joe Gruters is a bitcoin advocate and a Republican senator. ally Donald Trump has introduced companion bills which outline the structure of the trust and the funding mechanisms for the Reserve.
Both the House of Representatives and Senate would have to agree on a set of measures that governs how Florida will acquire, hold, and manage digital assets.
Bitcoins as financial hedges for Florida
The bills limit bitcoin’s eligibility, even though they do not mention it explicitly. Digital assets must have a minimum average capitalization over the previous 24 hours of at least 500 billion dollars.
At the moment, Bitcoin is the only asset which meets this criteria, as it has a capitalization of over $1 trillion. Ethereum and other cryptos fall far short.
The proposal is framed as an investment rather than a wager. Florida Chief Financial officer Jimmy Patronis made a public statement. described Bitcoin “digital gold” And said that limited exposure can help diversify funds managed by the state over long-term horizons. According to the bill, this reserve will help protect assets of public value against devaluation and inflation.
Florida’s strategy mirrors that of other states, which have reduced their attention to Bitcoin after a first attempt to approve broader crypto exposure.
New Hampshire became The first country to allow the investment of public money in cryptocurrency, giving its Treasurer authority to allot up to 5% from certain portfolios.
Texas approved A small Bitcoin ETF will be purchased in 2025, as part of the company’s own reserve strategy.
Wyoming is a state that has passed A set of laws that clarifies the legal status for digital assets, without using public money.
This proposal is also in line with Florida’s wider stance towards digital currency. By 2023, Governor. Ron DeSantis signed The state commercial code prohibits the use of digital currencies issued by central banks.
Florida’s move positions it as a skeptic of digital currency issued by the federal government, while still remaining open to alternatives such as bitcoin.
Florida will become the first U.S. state to use cryptoassets as reserve assets if they pass this bill. The supporters of the reserve argue that it could be a way for Florida to get exposure while not putting its public money at risk. However, critics point out bitcoin’s recent history of price fluctuations and wonder if public funds should even be exposed.
HB 1039, along with its Senate counterparts, must pass committee hearings and be voted on in the legislative session of 2026.
Bills include a conditional implementation date of 1 July 2026. That is, the bills will not be effective until all legislation has been approved and signed.
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Source: bitcoinmagazine.com
