The proposed bills are House Bill 183 and Senate Bill 1038 and cover the allocation of up to 10% of major state funds, such as the General Revenue Fund, Budget Stabilization Fund, and Florida Retirement System Trust Fund, to approved digital assets. The bills were introduced by Representatives Webster Barnaby and Joe Gruters and follow similar proposals that were put forward in 2025. This sequel bill limits its defined assets to Bitcoin, regulatory ETFs, and tokenized securities.
In the proposed structure, the Chief Financial Officer (CFO) and the State Board of Administration would supervise these investments. Digital assets would need to be safely managed in the form of self-holding through the CFO or through regulated investment products. The legislation also permits residents to pay certain state taxes and fees with cryptocurrency, although any digital currency received would be immediately converted into U.S. dollars.
Supporters, including CFO Jimmy Patronis, have described Bitcoin as “digital gold,” highlighting that limited exposure could help diversify state-managed funds. The bills, if passed, are scheduled to take effect July 1, 2026. In 2025, several U.S. states took significant steps toward creating state-run Bitcoin reserves, setting a precedent for Florida’s current proposals. New Hampshire became the first state to pass a Bitcoin Reserve Bill.Â
Introduced by Republican Keith Ammon and co-sponsored by Democrats Chris McAleer and Carry Spier, the law allows the state treasurer to invest up to 5% of state funds in digital assets with a market cap of at least $500 billion, currently limited to Bitcoin. Texas moved quickly with a similar plan. The bill passed its second reading with bipartisan support and would create a strategic Bitcoin reserve managed by the Texas Comptroller of Public Accounts.Â
Arizona also pursued a Bitcoin reserve. After initially being rejected, House Bill 2324 was revived in the state Senate, passing 16-14, and moved back to the House for reconsideration. The bill allows the state to seize unclaimed digital assets for the reserve. These projects, launched in 2025 for New Hampshire, Texas, and Arizona, paved the way for the strategic bitcoin reserve launched by the Florida government.
