Florida Lawmakers File Bill for Strategic Bitcoin Reserve

Florida lawmakers have revived a push to include cryptocurrency in the state's financial portfolio. On January 7, Republican Representative John Snyder filed House Bill 1039 for the 2026 legislative session. This bill proposes the creation of a Strategic Cryptocurrency Reserve Fund that would operate outside of Florida's main treasury.

The legislation authorizes the state's Chief Financial Officer to invest public funds in specific digital assets. To mitigate risk, the bill establishes strict guardrails, including independent audits, reporting requirements, and the formation of an advisory committee. The proposal effectively narrows the focus to Bitcoin by requiring that any digital asset maintain an average market capitalization of at least $500 billion over the past 24 months. Currently, Bitcoin is the only asset that meets this threshold.

This new framework represents a reset of efforts that stalled in 2025. Companion legislation has been filed in the Senate by Republican Senator Joe Gruters. Supporters argue that the reserve is intended to protect public assets against inflation and currency debasement, rather than as a speculative trade. If the full legislative package is approved and signed into law, the measure would take effect on July 1, 2026.

The newly filed House Bill 1039 outlines a specific structure for managing state-owned digital assets. The proposal establishes a Strategic Cryptocurrency Reserve Fund designed to sit independently of Florida's primary treasury operations. This separation is intended to isolate risk while allowing the state to gain exposure to the asset class.

Under the bill, the Florida Chief Financial Officer is granted discretion over investment decisions. The legislation does not mandate a specific minimum allocation, leaving the timing and scale of investments to the CFO's judgment. This differs from previous proposals in 2025, which suggested allowing up to 10% of certain state-managed funds to be invested in Bitcoin. The new bill explicitly places the reserve outside of pension and retirement accounts to protect core public funds.

To address concerns regarding volatility and oversight, the bill mandates several safeguards:

• Independent audits of the reserve fund
• Regular reporting requirements
• Creation of an advisory committee to guide investment strategy and risk management

These provisions are designed to provide a controlled framework for the state's engagement with cryptocurrency markets.

While the legislation refers to 'digital assets' broadly, the eligibility criteria effectively limit participation to Bitcoin. The bill stipulates that only assets maintaining an average market capitalization of at least $500 billion over the previous 24 months qualify for inclusion. With a market cap exceeding $1 trillion, Bitcoin currently stands as the sole cryptocurrency meeting this requirement. Assets such as Ethereum fall well below this threshold.

Supporters of the bill frame the initiative as a hedge against economic instability rather than a speculative venture. Florida Chief Financial Officer Jimmy Patronis has previously described Bitcoin as "digital gold."" He has stated that limited exposure could serve to diversify state-managed funds over long time horizons. The bill's text explicitly states that the reserve is intended to help protect public assets against inflation and currency debasement.

This strategic shift mirrors a broader trend among U.S. states. After initial attempts to authorize wider crypto exposure, several states have narrowed their focus specifically to Bitcoin. New Hampshire was the first state to allow public funds in crypto, authorizing its treasurer to allocate up to 5% of certain portfolios. Texas approved a small Bitcoin ETF purchase in late 2025 as part of its reserve strategy, while Wyoming has passed laws clarifying the legal status of digital assets without committing public funds.

The renewed effort is closely aligned with Republican leadership and broader political trends. The filing of companion bills in the Senate is being handled by Senator Joe Gruters, a noted Bitcoin supporter and ally of President Donald Trump. Together, the House and Senate measures aim to govern how Florida acquires, holds, and manages digital assets.

Florida's stance on digital money has been developing for several years. In 2023, Governor Ron DeSantis signed legislation blocking the recognition of central bank digital currencies (CBDCs) under the state's commercial code. This move positioned Florida as skeptical of federally issued digital currency while remaining open to decentralized alternatives like Bitcoin.

For the proposal to become law, it must navigate the standard legislative process. HB 1039 and its Senate companions must clear committee hearings and floor votes during the 2026 legislative session. The bills include a conditional effective date of July 1, 2026, meaning implementation would only begin if the full legislative package is approved and signed into law.