A disclaimer states the article reflects the author’s opinion and is not investment advice.

Rep. John Snyder’s office did not immediately respond to comment requests.

Historically, Florida cites Wyoming, Texas, and Miami’s municipal experiments as reference points for potential state-level adoption.

The bills are framed as a diversification strategy and aim to start July 1, 2026, pending committee reviews and floor votes; critics warn about volatility, while supporters see inflation protection akin to gold.

SB 1038 and House Bill 1039 revive a prior proposal with added safeguards, including independent audits, an advisory committee, and regular reporting to boost transparency and risk oversight.

Senate Bill 1038, sponsored by Republican Senator Joe Gruters, filed at year-end 2025 and reviewed in committee in early January 2026, would establish a Florida Strategic Cryptocurrency Reserve administered by the Chief Financial Officer.

If enacted, the act would take effect on July 1, 2026, with roughly eighteen months for planning and implementation once passed.

More than a dozen states have floated similar proposals, with Oklahoma and Utah advancing and Pennsylvania’s effort stalling.

Independent audits and an advisory committee would guide investment strategy and risk management to address volatility concerns.

Public and expert opinions are mixed, with supporters noting institutional learning and critics warning of taxpayer exposure until safeguards are proven.

Florida lawmakers have introduced three bills to create a state-operated Bitcoin reserve with a 500 billion-dollar market cap threshold, effectively narrowing eligible assets to Bitcoin under current conditions.

The plan reintroduces a Strategic Cryptocurrency Reserve Fund outside the state treasury to invest public funds in digital assets under strict guardrails.