Florida Lawmakers Renew Push to Launch State Bitcoin Reserve
Florida has introduced HB 1039, a bill to establish a state-managed cryptocurrency reserve, following previous failed attempts to allocate state funds to Bitcoin. The proposed "Florida Strategic Cryptocurrency Reserve" would exist outside the state treasury and be overseen by the chief financial officer, who would manage the fund using prudent investment standards. While the bill does not specify Bitcoin, its requirement for a cryptocurrency with a $500 billion minimum market cap over two years effectively limits eligible assets to Bitcoin. The bill aims to enhance Florida's financial resilience, hedge against economic volatility and inflation, and increase financial security for residents. It also proposes the creation of an advisory committee led by the CFO and comprised mostly of members with cryptocurrency investment experience. If passed, the act would take effect on July 1, 2026.
