Key Takeaways
When is the bill expected to be discussed?
The bill will be considered during the 2026 legislative session.
Who would manage these digital investments?
Florida’s Chief Financial Officer (CFO) and the State Board of Administration would oversee the investments and ensure safe custody and compliance.
Florida emerges as the newest US state explore the idea of holding Bitcoin [BTC] as part of its public investment strategy.
Details of House Bill 183
House Bill 183 was recently introduced at the Florida House. It defines “digital assets” broadly, including Bitcoin, tokenized securities, and non-fungible tokens (NFTs). The bill also prescribes strict custody and control measures for these assets.
Importantly, the bill allows Florida’s Chief Financial Officer (CFO) to invest up to 10% of certain public funds in digital assets. These funds include the General Revenue Fund, the Budget Stabilization Fund, and various trust funds.
Investments can be made directly in Bitcoin, other digital assets or exchange-traded products. The CFO has three options for managing these assets: hold them directly, use a qualified custodian, or invest through an SEC-registered ETF.
These methods are designed to ensure institutional level safeguards.
If passed, the bill would also authorize the State Board of Administration to invest up to 10% of the Florida Retirement System’s Trust Fund in similar digital assets.
How will this help Florida?
The bill describes Bitcoin as both a store of value and a hedge against inflation. It joins broader federal developments, including the March 2025 White House executive order that established a national “Strategic Bitcoin Reserve” and a stockpile of digital assets.
The proposed legislation in Florida builds on this federal direction. It positions the state as a potential early adopter among US jurisdictions embracing Bitcoin-backed reserves.
In addition to investment provisions, the bill introduces a digital-friendly option for residents. Floridians would be allowed to pay certain taxes and fees using digital assets.
These payments would be automatically converted into U.S. dollars before being deposited into the state’s general fund.
If the law is passed, it will come into effect on July 1, 2026. This would mark a significant step toward integrating cryptocurrency into Florida’s public financial system.
The move comes as Bitcoin trades at $107,370.02, down 3.52% in the past 24 hours, according to CoinMarketCap.
Other States and Their Views on the Bitcoin Reserve Act
This marks a notable policy shift after the state suspended similar efforts earlier this year, joining others like Wyoming and Pennsylvania in stalled efforts.
The new bill now brings Florida into line with states like Arizona, New Hampshire and Texas, which have advanced investment frameworks for digital assets, under Bitcoin laws.
Meanwhile, Brazil is taking parallel steps on a national scale, with the Chamber of Deputies set to debate a bill to create a national Bitcoin reserve on August 20.
This shows that governments from Florida to Brazil are increasingly exploring Bitcoin as a strategic reserve.