Florida lawmakers filed legislation Tuesday to create a state cryptocurrency reserve, reviving a proposal that stalled in 2025.
House Bill 1039 and companion Senate Bills would establish the Florida Strategic Cryptocurrency Reserve outside state treasury.
The bills would allow up to 10% of select public funds allocated to Bitcoin (BTC) and Bitcoin ETFs.
What Happened
Representative John Snyder filed HB 1039 on January 7.
Senator Joe Gruters sponsored companion bills establishing the reserve and trust fund to manage assets.
Only cryptocurrencies with an average $500 billion market capitalization over 24 months would qualify.
This restricts the reserve to Bitcoin, which exceeds $1 trillion market cap.
Ethereum sits around $380 billion.
Chief Financial Officer Jimmy Patronis describes Bitcoin as "digital gold."
The bills include requirements for independent audits and advisory committees.
Previous legislation was withdrawn in May 2025.
Read also: How MicroStrategy's 673k BTC Holdings Changed Bitcoin's Volatility Dynamics
Why It Matters
The legislation requires passage through committees and floor votes for a July 1, 2026 effective date.
Florida would join Texas, which became first state to fund a cryptocurrency reserve with $5 million Bitcoin purchase November 20.
New Hampshire passed legislation allowing its treasurer to invest up to 5% of public funds in digital assets.
The proposal follows Trump's March 2025 executive order establishing a federal Strategic Bitcoin Reserve.
Read also: What Happens If Bitcoin Breaks $92K? Peter Brandt Identifies Critical Level