Florida lawmakers have launched a package deal of payments that might create a state-run reserve of digital property, with eligibility guidelines that at the moment go away bitcoin as the one qualifying asset.
Payments and construction
Rep. John Snyder filed Home Invoice 1039, backed within the Senate by Joe Gruters.
Gruters additionally sponsored companion measures, SB 1038 and SB 1040, which might arrange a belief construction to handle and fund the reserve.
The payments lay out how Florida might purchase, maintain, and govern any eligible property.
Eligibility successfully limits the reserve to bitcoin
The proposal limits inclusion to property averaging at the least a $500 billion market capitalization over a 24-month interval.
Based mostly on the thresholds described within the payments, bitcoin is at the moment the one asset that qualifies, with a market cap above $1 trillion.
Funding sources and timeline
The laws lists potential funding sources together with authorized recoveries, income, purchases, and digital asset rewards.
Gruters framed the hassle as a long-term portfolio technique.
He stated in a press release:
“This plan displays an funding technique that accounts for market shifts and financial transformation.”
The payments embody a conditional efficient date of July 1, 2026.
Different states and prior efforts
Florida’s effort follows strikes elsewhere, together with Texas and New Hampshire.
New Hampshire’s framework permits its treasurer to allocate as much as 5% of public funds to qualifying digital property.
The article additionally notes earlier Florida makes an attempt, together with HB 487 and SB 550, which had been withdrawn in Could 2025.
On the federal degree, it cites President Trump’s March 2025 government order establishing a Strategic Bitcoin Reserve.