The Florida Legislature will once again propose a bill to establish a “Strategic Cryptocurrency Reserve” during the 2026 session, planning to use Bitcoin as the core asset and authorizing the state government to allocate part of public funds to invest in qualified digital assets, sparking attention as to whether it will become the next crypto-friendly state in the United States.
(Background recap: Arizona Governor signs crypto reserve law, the second state nationwide to implement it, “HB 2749” key points at a glance)
(Additional background: Texas buys $5 million worth of BlackRock Bitcoin ETF, with $87,000 bottom-fishing (what about other states?))

Table of Contents

• State-level reserve mechanism focused on Bitcoin
• Emphasis on risk management and transparency
• Extension of federal policies and state trends

As the 2026 legislative session officially begins, the Florida Legislature is once again focusing on cryptocurrency policy. Several state legislators recently reintroduced bills to establish the “Florida Strategic Cryptocurrency Reserve,” planning to use Bitcoin as the core asset, indicating Florida’s intention to take a more concrete step in the digital asset field.

This proposal was submitted by Republican State Representative John Snyder on January 7th as House Bill HB 1039, with corresponding Senate bills SB 1038 and SB 1040 introduced by Senator Joe Gruters.

Focus on the state-level reserve mechanism centered on Bitcoin

The core of the bill authorizes the State Chief Financial Officer (CFO) to allocate a portion of public funds into qualified cryptocurrency assets to diversify the investment portfolio and hedge against inflation risks. Specifically, the CFO can, at their discretion, allocate up to 10% of certain state funds into Bitcoin, SEC-registered cryptocurrency ETFs, or tokenized securities, without any mandatory minimum investment ratio.

Regarding asset qualification, the bill sets relatively strict thresholds. Qualified cryptocurrencies must have an average market capitalization of at least $500 billion over the past 24 months. Currently, only Bitcoin meets this criterion, with a market cap exceeding $1 trillion; other major cryptocurrencies like Ethereum are not included for now.

Emphasis on risk control and transparency

To reduce volatility and governance risks, the bill incorporates multiple risk management mechanisms, including establishing independent audit systems, forming advisory committees to oversee reserve operations, and clearly regulating asset custody, periodic reporting, and information disclosure requirements. Florida CFO Jimmy Patronis has publicly expressed support for the bill, describing Bitcoin as “digital gold,” and believes that including Bitcoin in limited proportions can help enhance the overall diversification of the state fund.

Additionally, the bill proposes a practical innovation allowing residents to pay some state taxes and fees with cryptocurrency. However, upon receipt of cryptocurrency, the state will immediately convert it into US dollars to avoid the impact of sharp price fluctuations on public finances.

Extension of federal policies and state trends

This proposal is clearly influenced by President Trump’s executive order in 2025. The order established a “Strategic Bitcoin Reserve” at the federal level in March of the same year, positioning Bitcoin as a national store of value through asset confiscation capitalization. In fact, Florida had previously proposed similar ideas in 2025, including HB 487 and SB 550, but these were withdrawn due to various reasons and did not become law. The current version has been revised and reintroduced.

Looking across the US, several states have already taken action. New Hampshire, Texas, and Arizona passed relevant legislation in 2025, with New Hampshire becoming the first state to allow state funds to invest in qualified digital assets; Texas actually used $5 million to purchase Bitcoin as reserves by the end of the year; Arizona authorized the state government to retain confiscated crypto assets. If Florida successfully passes this legislation, it will join the wave of “crypto-friendly states” and could set an example for other states’ policy directions.