Florida lawmakers are trying to bring Bitcoin into the state’s investment portfolio once again.
State Representative Webster Barnaby has introduced the new Florida bitcoin reserve bill, HB 183. The bill lets Florida put some of its public and pension funds into digital assets like bitcoin, and exchange-traded funds that deal with digital assets.
The proposal is a revised version of a similar effort, HB 487, that failed earlier in 2025, but this time, the measure includes tougher rules on custody, documentation, and compliance.
Unlike the earlier, Bitcoin-only proposal that was withdrawn in June 2025, the new version broadens the definition of eligible digital assets.
The new Florida bitcoin reserve bill now includes tokenized securities, non-fungible tokens (NFTs), and digital-asset-based ETFs. It defines digital assets as “any other cryptographically secured or tokenized representation of value or rights recorded on a blockchain or similar distributed ledger technology.”
HB 183 would permit the Chief Financial Officer (CFO) and the State Board of Administration to invest up to 10% of certain public funds in bitcoin and other approved digital assets.
These funds include the General Revenue Fund, the Budget Stabilization Fund, and the Florida Retirement System Trust Fund, which manage about $220 billion in assets.
That means even a small allocation—say, 1%—could equal over $2 billion in potential bitcoin or digital assets investments. Barnaby said the bill aims to modernize Florida’s investment strategy while ensuring transparency and oversight.
The new proposal places a heavy emphasis on security and accountability. All digital assets must be held either directly by the CFO’s office, through a qualified custodian, or via an SEC-registered ETF.
If control of the assets is lost—such as a lapse in custody or private key access—the state would have five business days to restore full control. Lending of digital assets would only be permitted when loans are fully collateralized.
The bill also specifies that any taxes or fees paid in digital assets need to be immediately converted into U.S. dollars before being deposited into state accounts. This measure, lawmakers say, is meant to limit direct risk to state coffers.
Florida’s move follows a growing wave of interest in digital asset reserves among U.S. states. According to Bitcoin Laws, only Arizona, New Hampshire, and Texas have successfully enacted similar bills so far.
New Hampshire’s law lets the state treasurer invest up to 5% of funds in digital assets with market capitalizations above $500 billion—currently just bitcoin—while Texas established a bitcoin-only reserve.
Barnaby’s bill also references the federal “Strategic Bitcoin Reserve” order announced by the White House in March 2025, suggesting Florida’s plan aligns with broader national interest in bitcoin as a store of value and liquidity tool.
