Florida Lawmakers Introduce Bill to Create Strategic Crypto Reserve

TLDR

• Florida lawmakers have introduced new bills to create a state-run crypto reserve.
• Only cryptocurrencies with a $500 billion average market cap over 24 months will qualify.
• Bitcoin is currently the only eligible asset for the proposed crypto reserve.
• The reserve may be funded through legal recoveries, purchases, and blockchain rewards.
• The proposed legislation includes a conditional effective date of July 1, 2026.

Florida lawmakers are moving forward with legislation to establish a crypto reserve for the state, aiming to diversify financial holdings, enhance economic resilience, and adapt to evolving digital trends.

Florida Pushes for a State Crypto Reserve

Representative John Snyder introduced House Bill 1039, proposing a crypto reserve for Florida’s treasury system, supported by Senator Joe Gruters. Gruters sponsored two companion bills, SB 1038 and SB 1040, to manage and fund the reserve through a dedicated trust. These bills define how the state may acquire, store, and govern eligible digital assets.

According to the proposal, only cryptocurrencies with a market cap above $500 billion over 24 months qualify for inclusion. Based on current data, Bitcoin meets this threshold with a market cap over $1 trillion, while Ethereum remains below. This requirement currently limits the reserve to Bitcoin.

Senator Gruters described the reserve as a long-term portfolio strategy that would strengthen Florida’s financial framework and support innovation. “This plan reflects an investment strategy that accounts for market shifts and economic transformation,” Gruters stated. The bill outlines sources for funding such as legal recoveries, revenue, and digital asset rewards.

Bitcoin as the Sole Qualifier

As of now, Bitcoin is the only asset eligible for the reserve due to its sustained high market capitalization. The legislation sets a strict benchmark of $500 billion in average market value over two years. Ethereum currently falls short, with a market value of around $380 billion.

Bitcoin peaked at over $126,198 in October but dropped to about $90,000 by year-end 2025. Lawmakers remain committed to the proposal, despite sharp market corrections and volatility. Supporters say Bitcoin functions like digital gold, offering states an inflation hedge.

Florida joins a trend already adopted in other states such as Texas and New Hampshire. Texas purchased $5 million worth of Bitcoin in December 2025, becoming the first state to act. New Hampshire allows its treasurer to allocate up to 5% of public funds to qualifying digital assets.

Growing Support Across States

Senator Gruters said the proposal ensures Florida remains competitive in the digital economy. His bills aim to use blockchain rewards and forks as potential funding channels for the reserve. The plan includes a conditional start date of July 1, 2026.

Earlier efforts to establish a crypto reserve failed, including HB 487 and SB 550, withdrawn in May 2025. Representative Webster Barnaby reintroduced a revised bill, HB 183, in October. These efforts reflect continued interest in building a regulated framework for digital asset management.

President Trump’s executive order in March 2025 established a Strategic Bitcoin Reserve at the federal level. This move encouraged states like Florida to act on their own crypto reserve plans. Arizona passed a separate law allowing state custody of seized crypto assets.

Supporters believe regulated reserves improve financial positioning and reduce reliance on traditional systems. Meanwhile, critics have voiced concerns about managing taxpayer funds in a volatile and evolving market. Lawmakers stress that only mature, high-cap cryptocurrencies will be allowed.

The GENIUS Act has already introduced regulatory oversight, and the CLARITY bill is expected to bring further structure. These federal initiatives aim to reduce institutional hesitation and support clearer legal frameworks. Lawmakers say the Florida reserve plan aligns with this push toward compliance and transparency.

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