Florida’s Bitcoin ‘digital gold’ reserve bill targets up to 10% of state funds

Florida bills would create a Strategic Bitcoin Reserve, allowing up to 10% of key public funds to hold BTC and ETFs while enabling limited crypto tax payments.
Summary

• Florida’s HB 183 and SB 1038 would establish a Strategic Bitcoin Reserve using select public funds.
• Up to 10% of the General Revenue, Budget Stabilization, and pension funds could go into Bitcoin, SEC‑registered ETFs, and tokenized securities.
• Florida follows Arizona, Texas, and New Hampshire, signaling broader state‑level Bitcoin reserve adoption across the U.S.

Florida legislators have introduced bills to establish a Strategic Bitcoin Reserve, with revised proposals set for debate during the 2026 legislative session, according to the proposed legislation.

Florida introduces bill to establish Strategic Bitcoin Reserve

The framework, divided between HB 183 and SB 1038, was introduced by Representatives Webster Barnaby and Joe Gruters. The bills narrow the scope of eligible digital assets compared to previous 2025 proposals, focusing on Bitcoin, Securities and Exchange Commission-registered cryptocurrency exchange-traded funds, and tokenized securities, according to the legislation.

The measures would authorize Florida’s Chief Financial Officer and the State Board of Administration to allocate up to 10 percent of select public funds into eligible digital assets. Covered funds include the General Revenue Fund, the Budget Stabilization Fund, and the Florida Retirement System Trust Fund, according to the bills.

The legislation requires digital assets to be held either directly by the Chief Financial Officer, through a qualified licensed custodian, or via regulated products such as exchange-traded funds. The bills also permit Florida residents to pay certain state taxes and fees using digital assets, though any cryptocurrency received would be immediately converted to U.S. dollars, according to the proposed framework.

The measures would take effect July 1, 2026, if approved and signed into law. Lawmakers cited a March 2025 executive order creating a U.S. Strategic Bitcoin Reserve from forfeited assets as context for state-level initiatives, according to statements from supporters.

Chief Financial Officer Jimmy Patronis has supported the effort, describing Bitcoin as “digital gold” in public statements and stating that limited exposure could enhance diversification within state-managed funds.

Florida follows Arizona, Texas, and New Hampshire, which enacted similar reserve legislation in 2025, according to state records. The outcome of Florida’s legislative process is expected to influence broader discussions on digital asset integration in public finance frameworks across U.S. states.