Florida Lawmakers Revive Strategic Bitcoin Reserve Efforts With New Proposal

A Florida lawmaker is trying to revive the state’s earlier efforts to ascertain and handle a Strategic Bitcoin Reserve (SBR) to guard its residents towards inflation and improve financial safety.

A New Strategic Bitcoin Reserve Proposal

On Wednesday, Florida House of Representatives member John Snyder introduced House Bill 1039 (HB 1039) to create and administer a state-run Strategic Cryptocurrency Reserve targeted on Bitcoin (BTC).

According to the laws, the strategic reserve can be established as “a particular fund exterior the State Treasury” to serve “hedge towards inflation and financial volatility” and the “public objective of offering enhanced monetary safety to residents of this state.”

Notably, the invoice states that “to be eligible to be bought for the reserve, a cryptocurrency should have a median market capitalization of no less than $500 billion over the newest 24-month interval.” Under this situation, solely Bitcoin, with its $1 trillion market capitalization, meets the necessities.

Based on this, Florida’s reserve would encompass “cash transferred or deposited to the credit score of the reserve by legislative appropriation, (…) Revenue that the Legislature by normal legislation dedicates for deposit to the credit score of the reserve, (…) Cryptocurrency bought utilizing cash in or acquired by the reserve, (…) Investment earnings and curiosity or rewards earned on property within the reserve.”

In addition, the reserve can be custodied and managed by Florida’s Chief Financial Officer (CFO), who will be capable to “purchase, alternate, promote, supervise, handle or retain any sort of investments” {that a} prudent investor would handle, beneath “the needs, phrases, distribution necessities, and different circumstances then prevailing for the reserve.”

The CFO can be allowed to establish contracts with a number of third-party entities for the administration and administration of the reserve, together with know-how suppliers for a safe custody answer, a professional custodian, and liquidity suppliers that facilitate the acquisition and gross sales of the reserve’s property.

Moreover, HB 1039 would launch the “Florida Strategic Cryptocurrency Reserve Advisory Committee” inside the Department of Financial Affairs. The committee can be composed of 5 members, together with the CFO, who would function the chairman, and 4 different people appointed by the CFO.

Florida’s SBR Push

Representative Snyder’s proposal follows earlier makes an attempt to ascertain a Strategic Bitcoin Reserve in Florida. Over the previous 12 months, some lawmakers joined the worldwide SBR momentum and launched a number of payments to create and handle a state-run crypto reserve.

As reported by Bitcoinist, the Florida Blockchain Business Association (FBBA) proposed the state’s first Bitcoin Reserve on the finish of 2024, looking for to allocate a small proportion of its $185.7 billion pension fund to BTC.

Samuel Armes, head of the FBBA, instructed that the state may use 1% of its pension fund, round $1.85 billion, to spend money on Bitcoin as a part of Florida’s push to launch a crypto-based strategic reserve.

In February 2025, Senator Joe Gruters launched Senate Bill 550 (SB 550) to permit the state’s CFO to speculate as much as 10% of public funds within the flagship crypto. Similarly, Representative Webster Barnaby launched House Bill 487 (HB 487) in April 2025 to permit Florida’s CFO and the State Board of Administration to speculate as much as 10% of sure state funds in Bitcoin, as a method to guard towards inflation and improve financial safety.

Nonetheless, each payments died within the first half of the 12 months after failing to acquire a majority vote of their respective committee hearings. Last October, Representative Barnaby filed House Bill 183 (HB 183) with a revised and “extra versatile” textual content to revive Florida’s SBR efforts.

If HB 1039 passes the state’s Senate and House votes and is signed into legislation, Florida would be part of Arizona, New Hampshire, and Texas because the few states to have enacted a Strategic Bitcoin Reserve.