Florida promotes Bitcoin strategic reserve, plans to allocate up to 10% of state government funds to BTC

Florida Reintroduces Legislation to Incorporate Bitcoin into State-Level Strategic Reserves, Establishing an Independent Fund with Strict Criteria, Only BTC Qualifies, Symbolizing Accelerated Adoption of Digital Assets by US State Governments.

2026 Legislative Agenda Reboot: Florida Pushes to Include Bitcoin in State Balance Sheet

Florida lawmakers are accelerating efforts to include Bitcoin ($BTC) in the state’s strategic reserves. Republican Congressman John Snyder officially introduced House Bill 1039 (HB 1039) in January 2026, aiming to establish a dedicated “Strategic Cryptocurrency Reserve Fund.”

Image source: Flsenate Republican Congressman John Snyder officially introduces House Bill 1039, enabling Florida to establish a Bitcoin strategic reserve

The bill complements Senate Bill 1038 (SB 1038), introduced by Senator Joe Gruters, with the goal of completing legalization during the 2026 legislative session.

Although Florida previously shelved a similar proposal in 2025 due to risk concerns, this reintroduced bill is more precise, primarily viewing Bitcoin as a hedge asset against economic uncertainty and inflation.

Independent Fund Structure with Strict Screening, Targeting Assets Over $500 Billion in Market Cap

According to the proposed HB 1039, Florida’s strategic cryptocurrency reserve will be established outside the state treasury and managed centrally by the State Chief Financial Officer (CFO).

The bill grants the CFO discretion over asset acquisition, holding, and sale, and authorizes the use of derivatives to enhance benefits when favorable. To ensure investment security, the bill sets strict screening thresholds: only digital assets with an average market cap exceeding $500 billion over the past 24 months are eligible.

Currently, only Bitcoin with a market cap of approximately $1.8 trillion qualifies, while Ethereum ($ETH) with a market cap of about $37.51 billion is not yet eligible for the initial reserve list.

Maximum Allocation Ratio Reaches 10%, Covering General Revenue and Retirement Funds

In terms of asset allocation, the bill proposes using up to 10% of specific public funds to invest in Bitcoin and regulated investment products.

Affected funds include the General Revenue Fund, Budget Stabilization Fund, and Florida Retirement System Trust Fund. However, the latest HB 1039 draft favors keeping the reserve fund separate from retirement accounts to reduce potential financial risks.

Additionally, the legislation supports acquiring digital assets through asset forks or airdrops, and allows residents to pay part of their state taxes with cryptocurrencies, which must be converted to USD immediately upon receipt. Supporters believe such diversified allocations can effectively enhance the long-term diversification of state funds.

Learning from Other States’ Experiences, Bitcoin Reserves to Support Financial Stability and Risk Diversification

Florida Chief Financial Officer Jimmy Patronis has repeatedly called Bitcoin “digital gold,” emphasizing that limited risk exposure can help strengthen the state’s financial stability.

If the bill passes smoothly, it is expected to take effect on July 1, 2026. Florida’s move follows the steps of New Hampshire, Texas, and Arizona, which have already passed or promoted similar reserve legislation in 2025.

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State-Level Adoption! Arizona Passes Bitcoin Reserve Bill, Allowing Up to 10% of Public Funds to Be Used for Coin Purchases

As the 2026 legislative session approaches, Florida’s initiative not only signifies increased acceptance of decentralized assets but may also trigger a new wave of discussions across US states on integrating digital assets into public financial frameworks.