Florida Moves Toward State Bitcoin Reserve Under New Bills

Representative John Snyder has introduced House Bill 1039, a proposal that would lay the legal groundwork for a strategic cryptocurrency reserve at the state level.

Key takeaways

• Florida lawmakers are proposing a state-level strategic crypto reserve.
• Eligibility rules currently restrict the reserve to Bitcoin only.
• The plan mirrors a growing national trend following federal action in 2025.
• Volatility concerns remain a central point of opposition.

Snyder’s effort is reinforced in the Senate, where Joe Gruters has filed SB 1038 and SB 1040, companion bills that would both establish the reserve and create a trust fund responsible for holding and managing digital assets on behalf of the state.

At the core of the proposal is a strict eligibility threshold. Any cryptocurrency purchased for the reserve must maintain an average market capitalization of at least $500 billion over the previous 24 months. In practice, that requirement currently limits the reserve to Bitcoin, whose market value remains well above $1 trillion. Other major assets, including Ethereum, fall short of the benchmark.

A renewed push after earlier failures

This is not Florida’s first attempt to formalize a crypto reserve. Earlier efforts — including HB 487 and SB 550 — were withdrawn in May 2025, while HB 183, filed later that year with revised language, failed to gain traction. The new bills reflect lessons learned from those attempts, narrowing scope and aligning more closely with federal policy.

Florida’s timing is not accidental. Momentum has been building nationwide since Donald Trump signed an executive order in March 2025 creating a Strategic Bitcoin Reserve at the federal level. That move provided political cover for states considering similar initiatives.

Several states have already acted. Texas funded a reserve with a $5 million Bitcoin purchase in December 2025. New Hampshire passed legislation allowing its treasury to allocate up to 5% of public funds into qualifying digital assets. Arizona took a narrower approach, authorizing the state to retain seized cryptocurrency rather than liquidating it.

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Supporters argue that these reserves modernize state financial strategy while offering a hedge against inflation, comparing Bitcoin’s role to that traditionally played by gold. Senator Gruters has framed Florida’s proposal as a long-term diversification play, with the reserve potentially growing through asset purchases, legal recoveries, state revenue, and even blockchain events such as forks or airdrops.

Volatility and regulation remain unresolved

Despite growing political support, critics remain wary. Bitcoin’s price history continues to fuel skepticism about exposing public funds to extreme volatility. After reaching an all-time high above $126,000 in October 2025, the asset fell sharply within weeks and now trades near $90,000, far below the most aggressive bullish forecasts made last year.

Regulatory uncertainty has also been a lingering concern. While the passage of the GENIUS Act marked a step toward clearer oversight of digital assets, lawmakers and institutions are still awaiting further clarity from pending legislation such as the CLARITY bill, which aims to more fully define market structure and compliance standards.

The Florida proposal includes a conditional effective date of July 1, 2026, giving regulators and policymakers time to assess market conditions and legal frameworks before implementation.

If passed, the bills would place Florida among a small but growing group of states formally treating Bitcoin as a strategic reserve asset — a move that underscores how rapidly digital assets are entering mainstream public finance debates.

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