Florida Revives Bitcoin Reserve Legislation After Previous Legislative Failures

Source: Btcpeers Original Title: Florida Revives Bitcoin Reserve Legislation After Previous Legislative Failures Original Link: Florida lawmakers filed a new Bitcoin reserve proposal on December 30, 2025. Republican Senator Joe Gruters sponsored Senate Bill 1038. The legislation would create a Florida Strategic Cryptocurrency Reserve under state control.

The bill restricts eligible assets to cryptocurrencies maintaining an average market capitalization above $500 billion over two years. Only Bitcoin currently meets this threshold. The chief financial officer would manage the reserve with authority to purchase, hold and liquidate approved digital assets.

SB 1038 represents a narrowed approach compared to previous efforts. Representative Webster Barnaby filed House Bill 183 in October 2025, seeking 10% allocation across multiple asset types including NFTs and exchange-traded products. That measure followed the withdrawn HB 487, which failed to advance in June 2025. The new Senate bill eliminates pension and retirement fund exposure entirely.

Reduced Scope Addresses Legislative Concerns

The strategic shift responds to opposition that blocked earlier proposals. 16 states introduced Bitcoin reserve legislation by March 2025. New Hampshire and Arizona enacted similar frameworks. Arizona Governor Katie Hobbs vetoed one bill citing concerns about untested retirement fund investments.

Florida’s revised bill requires companion trust-fund legislation to take effect. House Bill 1039 was filed alongside the Senate measure. The dual-chamber approach demonstrates coordinated legislative support. CFO reporting requirements begin December 2026 if enacted.

The market capitalization requirement mirrors approaches in Texas and New Hampshire. Nations consider Bitcoin reserves to reduce dependence on traditional banking systems and SWIFT payments. Florida’s framework provides oversight while limiting asset selection through objective criteria.

State Competition Drives Bitcoin Adoption Strategy

Federal momentum accelerated state-level initiatives after President Trump signed an executive order establishing a Strategic Bitcoin Reserve in March 2025. Senator Cynthia Lummis introduced the BITCOIN Act proposing $80 billion in federal purchases over five years.

State responses vary widely. Florida joins Wyoming, South Dakota, North Dakota, Pennsylvania, Montana and Oklahoma among states that withdrew or failed Bitcoin legislation in 2025. Oklahoma passed HB 1203 in the House but progress stalled. Michigan advanced measures after months of gridlock.

Estimates suggest 2-3% cryptocurrency allocation across institutional pools could generate $3-4 trillion in demand. This exceeds Bitcoin’s current $2.2 trillion market value. Retirement account adoption already began through Fidelity’s 401k Bitcoin ETF options. Institutional buyers face supply constraints as miners produce approximately 900 new coins daily.

Critics question volatility risks while supporters view Bitcoin as inflation protection. A February 2025 University of Chicago economist survey found zero respondents agreed crypto reserves would benefit the economy. However, Florida’s structure limits exposure through the standalone reserve model rather than direct pension investment. Whether this addresses concerns sufficiently remains uncertain as the 2026 legislative session progresses.