Florida lawmakers are once again trying to incorporate Bitcoin into the state’s investment portfolio.
State Representative Webster Burnaby has introduced Florida’s new Bitcoin reserve bill, HB 183. The bill would allow Florida to invest a portion of its public and pension funds in digital assets such as Bitcoin and exchange-traded funds that handle digital assets.
The proposal is a revised version of HB 487, a similar effort that failed in early 2025, but this time the measure includes stricter rules for storage, documentation, and compliance.
Unlike the previous Bitcoin-only proposal, which was withdrawn in June 2025, the new version expands the definition of eligible digital assets.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. The law defines digital assets as “cryptographically secured or tokenized representations of value or rights recorded on a blockchain or similar distributed ledger technology.”
HB 183 would authorize the Chief Financial Officer (CFO) and the State Board of Governors 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 approximately $220 billion in assets.
This means that even a small allocation, such as 1%, can increase your investment in Bitcoin or digital assets to more than $2 billion. Barnaby said the bill aims to modernize Florida’s investment strategy while ensuring transparency and oversight.
The new proposal focuses on security and accountability. All digital assets must be held by the Office of the CFO directly, through a qualified custodian, or through an SEC-registered ETF.
If control of an asset is lost, such as through a revocation of control or access to a private key, the state has five business days to regain full control. Lending of digital assets is only allowed if the loan is fully collateralized.
The bill also provides that taxes and fees paid in digital assets must be immediately converted into US dollars before being credited to a state account. Lawmakers say the measure is aimed at limiting the direct risk to the national treasury.
Florida’s move comes in the wake of growing interest among U.S. states in preparing for digital assets. According to Bitcoin Law, only Arizona, New Hampshire, and Texas have so far successfully enacted similar legislation.
New Hampshire law allows the state treasurer to invest up to 5% of funds in digital assets with a market capitalization of more than $500 billion (currently only Bitcoin), while Texas has a Bitcoin-only reserve.
Barnaby’s bill also references the federal government’s “Strategic Bitcoin Reserve” mandate announced by the White House in March 2025, suggesting that Florida’s plan is consistent with broader national interests in Bitcoin as a store of value and liquidity tool.