Florida lawmaker files bill to establish strategic bitcoin reserve

Florida House Member John Snyder filed a bill on Tuesday to create a state-managed bitcoin reserve framed as a bulwark against inflation. 

House Bill 1039 proposes the Florida Strategic Cryptocurrency Reserve as a special fund held separately from the State Treasury.

The proposed legislation grants the state’s Chief Financial Officer the authority to administer and manage the reserve’s assets. If voted and signed into law, the bill would take effect on July 1, 2026.

Florida’s cryptocurrency portfolio may also accumulate assets through “forks” in distributed ledgers or “airdrops” of tokens to state addresses. Investment earnings and interest generated by the reserve’s holdings will reinvest into the fund.

The bill has not yet been assigned to a committee. Typically, Florida House bills are assigned to a committee for a hearing and committee vote; if the bill advances from the committee, the House would then vote on the bill and, if passed, it would then go through the same process in the Florida Senate.

The Florida Legislature’s 2026 session runs through March into April, so if the bill were to become law, the earliest that could happen would be this Spring.

The bill only allows the state to hold cryptocurrencies that have maintained an average market capitalization of at least $500 billion over the most recent 24-month period. Currently, only bitcoin meets this criterion.

Security protocols outlined in the bill require the use of “secure custody solutions” for holding cryptographic private keys, and it allows for “contracts with third parties for the administration and management of the reserve.”

Header image by Denys Kostyuchenko via Unsplash.