Florida moves to create standalone Bitcoin reserve

Florida lawmakers have filed a bill to establish a state-managed bitcoin reserve ahead of the 2026 legislative session starting on January 13.

Senate Bill 1038 proposes the creation of a Florida Strategic Cryptocurrency Reserve overseen by the state’s chief financial officer.

The bill isolates bitcoin holdings in a standalone reserve, avoiding exposure across pensions and other public funds.

Under the proposal, the CFO could only purchase cryptocurrencies with an average market capitalisation of at least $500 billion over the past 24 months.

This requirement currently limits eligibility to bitcoin alone.

The legislation was sponsored by state senator Joe Gruters.

Similar proposals introduced during Florida’s 2025 session failed to advance out of committee.

A separate House bill filed for the 2026 session would allow broader digital asset exposure across state and local funds, but remains pending.

Florida’s approach contrasts with other states that are moving from legislation toward early execution of bitcoin policies.

Texas lawmakers approved a bitcoin reserve last year, with reports indicating a $5 million allocation to a spot bitcoin ETF.

New Hampshire and Arizona have adopted narrower frameworks governing how public entities may interact with bitcoin.

At the time of reporting, Bitcoin price was $90,817.80.