Florida introduces new bill to establish Bitcoin and digital asset reserves
Florida aims to diversify its public investments with digital assets, following national and institutional trends in embracing Bitcoin as a reserve strategy.
Key Takeaways
- Florida has proposed legislation to create a strategic Bitcoin reserve for public funds investment.
- The proposal would let the state's chief financial officer invest public money in Bitcoin.
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Florida has introduced a new bill that would authorize the state to invest public funds in Bitcoin and other digital assets.
The legislation, filed as House Bill 183 and sponsored by Rep. Webster Barnaby, would allow the Chief Financial Officer (CFO) and the State Board of Administration to manage portions of state funds in Bitcoin and digital asset exchange-traded products.
The move aligns with broader institutional adoption trends. The US established a strategic Bitcoin reserve managed by the Treasury in 2025, incorporating forfeited assets as a store of value.
Institutional players like BlackRock and Fidelity have expanded Bitcoin-related fund offerings, supporting the infrastructure that could facilitate state-level adoption. Recent policies allowing digital assets in retirement plans have created a precedent for Florida’s reserve strategy.
The legislation represents Florida’s effort to position itself among states pioneering crypto asset integration into public investment frameworks, treating Bitcoin as a strategic reserve option alongside traditional state fund allocations.
