Florida Unveils Plan to Allocate 10% of Public Wealth to Bitcoin

• Florida revives Strategic Bitcoin Reserve plan, allowing up to 10% fund allocation.
• Bills HB 183 and SB 1038 would allow public funds to be invested in Bitcoin and ETFs.
• Florida isn’t the only US state looking to use cryptocurrency in its government finances.

Florida lawmakers have brought back and expanded a proposal to create a Strategic Bitcoin Reserve. It would let the state invest up to 10% of certain public funds in Bitcoin and related products, including SEC-registered Bitcoin ETFs and other digital assets. This comes after a similar, but unsuccessful, attempt last year.

If the proposal comes to pass, Florida bills (HB 183 and SB 1038) would give the state’s financial leaders the power to put up important public funds, such as the general budget, emergency savings, and the state pension fund, into approved digital assets like Bitcoin and Bitcoin ETFs.

The state could hold the assets directly, use approved third-party custodians, or invest in regulated funds. HB 183 was introduced by Representative Webster Barnaby, while the Senate’s version of the bill, SB 1038, was introduced by Senator Joe Gruters. The latter focuses only on cryptocurrencies with a total market value over $500 billion, which currently means just Bitcoin. 

A Rising Trend Among US States

Florida isn’t the only US state looking to use cryptocurrency in its government finances. 

For instance, last year, New Hampshire became the first state to legalize Bitcoin reserve investments, authorizing funds to be placed into digital assets that are large enough by market value (essentially Bitcoin and other top-tier cryptocurrencies). Also, the Texas House passed a Strategic Bitcoin Reserve bill in 2025.

Arizona made progress with similar bills but faced political challenges, including vetoes. Other states, such as North Carolina, Oklahoma, Montana, and Pennsylvania, have previously rejected or halted crypto treasury efforts.

At the federal level, there are proposals like the BITCOIN Act of 2025, which seeks to set up a US Strategic Bitcoin Reserve. This could help coordinate state efforts and treat Bitcoin as a strategic asset for the country. It was introduced in March last year and is still in the legislative process.

As always, there are both supporters and critics of the aforementioned bills. Critics say crypto’s price swings and unclear rules are too risky for pensions and long-term savings, while supporters respond that using approved ETFs and secure storage providers solves the main concerns about safety and operation.

Related: Senator Lummis Questions Why US Gov Liquidates Bitcoin Despite Reserve Order