Florida Doubles Down on Bitcoin Reserve Push with 2026 Bill, Signaling GOP’s Full Embrace of ’Digital Gold’

Florida isn't just dipping a toe in the crypto waters—it's diving headfirst. The state's renewed legislative push to hold Bitcoin on its balance sheet marks a watershed moment for mainstream political adoption.

The Mechanics of a State Treasury Bet

Forget vague endorsements. This bill lays out a concrete framework for the state treasury to acquire, custody, and manage Bitcoin as a reserve asset. It treats the cryptocurrency not as a speculative tech toy, but as 'digital gold'—a non-sovereign store of value to hedge against monetary debasement. The move effectively creates a public-sector blueprint for corporate and institutional adoption, bypassing the traditional financial gatekeepers who've long viewed crypto with skepticism.

Political Tailwinds and Fiscal Strategy

The 2026 timing is no accident. It signals a calculated, long-term strategy within the GOP to claim digital asset innovation as a core political plank. Florida's playbook offers a template for other states: frame Bitcoin as a tool for financial sovereignty and a hedge against federal monetary policy—a pitch that resonates with a base increasingly wary of central bank overreach. It's fiscal conservatism meets digital asset theory, with a not-so-subtle jab at the old guard of finance still waiting for 'the blockchain' to fax them a use case.

This isn't just a policy shift; it's a cultural one. When a major state treasury starts allocating to Bitcoin, it legitimizes the asset class for every pension fund and institutional manager watching from the sidelines. The message is clear: the future of state reserves might just be programmed in code, not printed on paper—proving sometimes the most disruptive technology isn't a new trading algorithm, but a state government moving faster than your average hedge fund.

After an earlier attempt failed, Florida lawmakers are reviving a proposal that would allow the state to hold digital assets as part of its finances. The plan would create a state-run cryptocurrency reserve. Introduced on Jan. 7 for the 2026 legislative session by Republican Representative John Snyder, House Bill 1039 would set up a Strategic Cryptocurrency Reserve Fund outside the state treasury.

Florida to Establish Strategic Crypto Reserve

Florida lawmakers are moving forward with a revised plan to set up a state cryptocurrency reserve, focusing more narrowly on Bitcoin than earlier proposals.

The proposal seeks requirements for independent audits and the creation of an advisory committee, bringing back ideas from a 2025 bill that was later called off. That earlier version WOULD have allowed up to 10% of certain state funds to be invested in Bitcoin.

However, the current bill does not require the state to invest any set amount. Instead, it leaves the decision of whether-and-when to put money into bitcoin up to the chief financial officer.

Also read: Florida Bitcoin Reserve Bill 2026: Aiming to Invest 10% of State Funds in Crypto

According to state records, Senate Bill 1038 was introduced on Dec. 30 by Republican Senator Joe Gruters and has been sent to a Senate appropriations committee. The bill will need to go through committee hearings and votes before the full Senate can consider it.

If approved, the proposal would create a Florida Strategic Cryptocurrency Reserve overseen by the state’s chief financial officer. The CFO would be allowed to buy, hold, manage, and sell cryptocurrency, using standards similar to those that apply to other public trust investments.

Florida’s Chief Financial Officer, Jimmy Patronis, showed support for the proposal. He also called bitcoin the “digital gold” and said that a small amount of exposure could help diversify the state’s investment portfolio amid rising inflation.

If the measure becomes law, Florida would be among a rising number of states moving ahead with crypto-related legislation, including New Hampshire and Texas. Wyoming has already passed many crypto friendly laws, and New Hampshire recently made history by becoming the first state to formally allow public funds to be invested in cryptocurrencies, an example Florida lawmakers have pointed to.