Florida Revives Bitcoin Investment Plan With Bill Allowing State Funds to Hold Up to 10% in Crypto

Florida’s House Bill 183 proposes allowing up to 10% of state and pension funds in digital assets.

The bill includes Bitcoin, tokenized securities, and NFTs, with new custody and fiduciary rules.

Florida joins a growing list of U.S. states pursuing Bitcoin reserve legislation amid federal interest.

Florida has revived its plan to invest state funds in Bitcoin and other digital assets. House Bill 183, filed by Representative Webster Barnaby, would allow up to 10% of certain public and pension funds to be invested in cryptocurrencies and related products, pending approval by the Florida legislature.

Florida Renews Digital Asset Investment Proposal

Florida House Republican Webster Barnaby filed House Bill 183 to allow the state and public entities to allocate up to 10% of their funds to digital assets. The proposal follows an earlier version withdrawn in June and adds new custody and fiduciary requirements for managing such investments.

The bill defines digital assets to include Bitcoin, tokenized securities, exchange-traded products, and NFTs. It authorizes the State Board of Administration to invest portions of the Florida Retirement System’s trust fund in digital assets. The measure also permits certain taxes and fees to be paid using cryptocurrencies, which would then be converted to U.S. dollars.

If approved, HB 183 would take effect on July 1, 2026. The proposal positions Bitcoin as a potential inflation hedge for state funds, referencing a 2025 White House executive order establishing a federal “Strategic Bitcoin Reserve.”

State-Level Crypto Reserves Gain Traction Across The U.S.

Florida’s renewed effort follows a broader national wave of state-level crypto legislation. In 2025, Arizona, New Hampshire, and Texas passed similar laws enabling state treasuries to hold Bitcoin or digital reserves. More than 50 related bills were introduced across the U.S., according to Bitcoin Laws founder Julian Fahrer.

“Most of the failed bills you see are because the state legislatures adjourned for the session,” Fahrer said, noting that momentum remains strong. Federal discussions about a national Bitcoin reserve have further spurred states to explore similar initiatives.

HB 183 now awaits committee hearings in the Florida House. If advanced, it will require approval from both legislative chambers and the governor’s signature to become law. The bill’s progress will determine whether Florida joins the growing list of states adopting digital asset reserves.

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