A Florida lawmaker is making an attempt to revive the state’s earlier efforts to ascertain and handle a Strategic Bitcoin Reserve (SBR) to guard its residents in opposition to inflation and improve financial safety.
A New Strategic Bitcoin Reserve Proposal
On Wednesday, Florida Home of Representatives member John Snyder launched Home Invoice 1039 (HB 1039) to create and administer a state-run Strategic Cryptocurrency Reserve centered on Bitcoin (BTC).
In accordance with the laws, the strategic reserve can be established as “a particular fund exterior the State Treasury” to serve “hedge in opposition to inflation and financial volatility” and the “public objective of offering enhanced monetary safety to residents of this state.”
Textual content for Home Invoice 1039. Supply: flsenate.gov
Notably, the invoice states that “to be eligible to be bought for the reserve, a cryptocurrency should have a median market capitalization of at the least $500 billion over the latest 24-month interval.” Underneath this situation, solely Bitcoin, with its $1 trillion market capitalization, meets the necessities.
Primarily based on this, Florida’s reserve would include “cash transferred or deposited to the credit score of the reserve by legislative appropriation, (…) Income that the Legislature by common legislation dedicates for deposit to the credit score of the reserve, (…) Cryptocurrency bought utilizing cash in or obtained by the reserve, (…) Funding earnings and curiosity or rewards earned on belongings within the reserve.”
As well as, the reserve can be custodied and managed by Florida’s Chief Monetary Officer (CFO), who will be capable of “purchase, alternate, promote, supervise, handle or retain any sort of investments” {that a} prudent investor would handle, underneath “the needs, phrases, distribution necessities, and different circumstances then prevailing for the reserve.”
The CFO can be allowed to ascertain contracts with a number of third-party entities for the administration and administration of the reserve, together with expertise suppliers for a safe custody answer, a certified custodian, and liquidity suppliers that facilitate the acquisition and gross sales of the reserve’s belongings.
Furthermore, HB 1039 would launch the “Florida Strategic Cryptocurrency Reserve Advisory Committee” inside the Division of Monetary 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
Consultant 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 Enterprise Affiliation (FBBA) proposed the state’s first Bitcoin Reserve on the finish of 2024, in search of to allocate a small proportion of its $185.7 billion pension fund to BTC.
Samuel Armes, head of the FBBA, steered 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 Invoice 550 (SB 550) to permit the state’s CFO to take a position as much as 10% of public funds within the flagship crypto. Equally, Consultant Webster Barnaby launched Home Invoice 487 (HB 487) in April 2025 to permit Florida’s CFO and the State Board of Administration to take a position as much as 10% of sure state funds in Bitcoin, as a method to guard in opposition to 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. Final October, Consultant Barnaby filed Home Invoice 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 Home votes and is signed into legislation, Florida would be a part of Arizona, New Hampshire, and Texas because the few states to have enacted a Strategic Bitcoin Reserve.
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