Florida lawmakers have revived a push to put bitcoin on the state’s balance sheet, filing new legislation for the 2026 session that would create a state-run cryptocurrency reserve after a similar effort stalled last year.
Backers frame the proposal as a hedge rather than a bet. Florida Chief Financial Officer Jimmy Patronis has publicly described bitcoin as “digital gold” and said limited exposure could help diversify state-managed funds over long time horizons. The bill states that the reserve is intended to help protect public assets against inflation and currency debasement.
Florida’s approach mirrors moves in other states that have narrowed their focus to bitcoin after initial attempts to authorize broader crypto exposure.
New Hampshire became the first state to explicitly allow public funds to be invested in crypto, granting its treasurer authority to allocate up to 5% of certain portfolios.
Texas approved a small bitcoin ETF purchase in late 2025 as part of its own reserve strategy.
Wyoming, meanwhile, has passed a slate of laws clarifying the legal status of digital assets without committing public funds.
The proposal also fits within Florida’s broader stance on digital money. In 2023, Gov. Ron DeSantis signed legislation blocking central bank digital currencies from recognition under the state’s commercial code.
The move positioned Florida as skeptical of federally issued digital money while remaining open to decentralized alternatives like bitcoin.
If passed, Florida would become one of the largest U.S. states to formally experiment with crypto as a reserve-class asset. Supporters argue that a tightly governed reserve could allow the state to gain exposure without putting core public funds at risk. Critics, however, point to bitcoin’s history of sharp price swings and question whether public money should be exposed at all.
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.
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