TL;DR
- Florida lawmakers advance a Bitcoin-focused reserve bill through its first committee review.
- The proposal restricts eligible assets by applying a strict market capitalization rule that only Bitcoin meets.
- Oversight would fall under the state’s chief financial officer, while pension and retirement funds remain excluded, aligning Florida with Bitcoin-only reserve models adopted by other US states.
Florida lawmakers moved closer to authorizing a state-level Bitcoin reserve after a revised proposal cleared its first legislative step. The Bitcoin Reserve Proposal reflects a more selective approach to digital assets, shaped by earlier initiatives that failed to secure broad backing. Instead of wide crypto exposure, the bill frames Bitcoin as a strategic asset suitable for public balance sheet management.
Florida’s Bitcoin Reserve Proposal Takes Shape
Filed in late December, Senate Bill 1038 outlines the creation of a Florida Strategic Cryptocurrency Reserve overseen by the chief financial officer. Although the bill does not name Bitcoin directly, its eligibility criteria leave little room for interpretation. Any asset purchased for the reserve must have maintained an average market capitalization above $500 billion over the past two years, a benchmark only Bitcoin satisfies.
This requirement narrows the scope of the reserve while emphasizing scale, liquidity, and market resilience. Supporters argue that Bitcoin’s long trading history and global adoption justify its inclusion as a reserve asset. Under the proposal, the CFO gains authority to buy, hold, manage, and liquidate Bitcoin following standards similar to those applied to public trust assets, reinforcing institutional oversight.
A Shift From Broad Crypto Exposure
The current proposal departs significantly from Florida’s earlier crypto legislation. In October 2025, a House bill sought to allow public entities to allocate up to 10% of funds across a wide range of digital assets, including tokens, exchange-traded products, and NFTs. That effort stalled amid concerns over risk management and indirect exposure of pension funds.
SB 1038 removes those elements entirely. Pension and retirement funds are excluded, and the reserve operates as a separate structure under centralized supervision. Comparable Bitcoin-only frameworks passed in states such as Texas and New Hampshire during 2025, suggesting a broader policy trend toward narrower definitions of acceptable digital assets.
What Comes Next For The Reserve
The bill depends on companion legislation to establish the necessary trust fund mechanics. A corresponding House measure has already been introduced, pointing to coordinated support across both chambers. If enacted, the CFO would begin submitting formal reports to legislative leaders in December 2026, detailing holdings, valuation, and management activity.
As the process continues, Florida’s Bitcoin Reserve Proposal highlights a growing willingness among US states to treat Bitcoin as a strategic financial asset, integrating it cautiously but deliberately into public finance structures.
