Florida Bets Big on Bitcoin with New State Crypto Reserve

TLDR

• Florida aims to launch a Bitcoin reserve in 2026 under strict CFO oversight.
• The fund focuses solely on Bitcoin, avoiding broader crypto risks.
• Biennial reporting and expert advisory ensure transparency and accountability.
• Custody, security, and risk rules tighten compared to past proposals.
• Florida joins Texas and New Hampshire in experimenting with state crypto funds.

Florida lawmakers are advancing a plan to create a state-run Bitcoin reserve, aiming to launch in 2026. The new proposal narrows the scope compared to past efforts while strengthening oversight and security rules. If passed, the reserve will be managed by Florida’s Chief Financial Officer and could act as a hedge against inflation.

The measure allows the CFO to buy, hold, exchange and sell cryptocurrency under defined standards similar to public trust assets. Florida’s legislation focuses strictly on cryptocurrencies with market capitalization above $500 billion, effectively limiting the fund to Bitcoin. This approach marks a clear shift from broader earlier proposals that included multiple digital assets.

The reserve would operate under strict reporting rules, requiring the CFO to submit a biennial update on holdings, valuation changes and management activities. Florida legislators aim to increase transparency while retaining flexibility for the CFO to act as market conditions evolve. The fund also includes provisions for temporary transfers to the state treasury if legally required.

Tighter Rules and Oversight in Florida’s 2026 Proposal

The legislation introduces detailed rules for custody, security, and risk management, including multiparty authorization and geographic redundancy. Florida’s CFO can contract with third-party auditors, liquidity providers, and custody technology firms to ensure safe management. The bill also permits the use of derivatives if deemed beneficial, adding layer of flexibility for the state.

Florida plans to form an advisory committee to support the CFO, including four experts in digital assets and security. This committee will guide investment decisions, monitor risks, and review operational practices. Such oversight is intended to reduce risks that contributed to earlier proposals failing in 2021.

The new approach contrasts sharply with Florida’s 2025 bills, which were broader and ultimately withdrawn without passage. Legislators have reduced ambition while prioritizing accountability, aiming to create a manageable and transparent digital reserve. The CFO has discretion over fund deployment, with no mandatory minimum allocation.

Florida Joins Growing U.S. Crypto Reserve Trend

Florida’s renewed effort follows other states experimenting with public Bitcoin holdings, including New Hampshire and Texas. Wyoming has also passed laws clarifying digital asset regulations, while Florida references these models to guide its reserve framework. Lawmakers emphasize the reserve as a tool for financial diversification and protection against inflation.

The initiative fits Florida’s broader stance on digital money, reflecting skepticism toward central bank digital currencies while embracing decentralized alternatives. Florida’s Governor and state officials have repeatedly signaled support for limited cryptocurrency exposure in public funds. The bill could make Florida one of the largest states to formally adopt Bitcoin as a reserve-class asset.

Florida’s legislative push demonstrates a strategic move to modernize state financial management using digital assets. The measure is under review in multiple committees and could take effect on July 1, 2026, if passed. This positions Florida at the forefront of state-level cryptocurrency experimentation in the United States.

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