Florida Bill Aims to Create Independent State Bitcoin Reserve Fund

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Florida lawmakers have filed a new proposal that would authorize the creation of a state-managed Bitcoin reserve, marking the latest attempt by a US state to formally place the cryptocurrency on its balance sheet ahead of the 2026 legislative session set to kick off on Jan. 13.

Filed as Senate Bill 1038, the legislation proposes a distinct entity called the Florida Strategic Cryptocurrency Reserve, to be managed by the state’s chief financial officer. This standalone fund would operate under specific, newly created custody and governance protocols.

The bill sets a high bar for eligible assets, restricting purchases to cryptocurrencies that have maintained a $500 billion average market cap over two years. At present, this criterion would mean only Bitcoin qualifies for the reserve.

State Senator Joe Gruters is the bill’s sponsor. The Block contacted his office for additional details but has not yet received a reply.