Florida Lawmakers Revive Push for Bitcoin Investments With New 2026 Crypto Reserve Bill

Florida is once again making headlines in the digital asset world — this time with a fresh proposal that could see the state become one of the first in the U.S. to formally invest public funds in Bitcoin.

House lawmakers have introduced House Bill 183, a measure that would authorize Florida’s chief financial officer (CFO) to allocate up to 10% of select public funds — including the General Revenue Fund and the Budget Stabilization Fund — into Bitcoin and Bitcoin exchange-traded funds (ETFs).

If passed, the law could also extend to the state’s retirement system, allowing a similar level of crypto exposure under strict oversight and compliance rules.

The proposal marks a major reversal from May 2025, when Florida abandoned its previous plans to establish a state-level Bitcoin reserve. The move aligns Florida with a growing number of U.S. states — such as Arizona, New Hampshire, and Texas — exploring frameworks for integrating Bitcoin into their official investment portfolios.

Former Florida CFO Jimmy Patronis already advocated for the state to include Bitcoin in pension Funds last year. He called Bitcoin "digital gold", which would help diversify Florida's portfolio.

Tight Custody and Compliance Rules

Needless to say, lawmakers have built stringent safeguards and safety nets to deter any form of foul play.

For instance, the bill mandates that all crypto holdings be custodied through the state’s CFO and qualified third-party custodians, in compliance with federal investment and accounting standards.

These guardrails are designed based on institutional best practices to prevent misuse of public funds — a move likely aimed at reassuring regulators and traditional investors.

If approved, the legislation would also allow Floridians to pay certain taxes and fees in digital assets, which would then be converted into U.S. dollars before being deposited into the state’s general revenue fund.

Notably, the definition of “digital assets” in the bill extends beyond Bitcoin and tokenized securities to include non-fungible tokens (NFTs) — signaling the state’s intention to remain flexible as blockchain applications evolve.

What Comes Next

The proposal is currently awaiting hearings in the Florida House of Representatives. To become law, it must clear both the Senate and gain the Governor’s signature.

If successful, Florida would join a small but growing list of U.S. jurisdictions treating Bitcoin as a strategic reserve asset, potentially reshaping how states manage their long-term public finances.

As lawmakers return for the 2026 legislative session, all eyes will be on whether Florida’s renewed crypto ambitions can succeed where previous efforts have faltered — and whether the Sunshine State will finally embrace Bitcoin as part of its financial future.