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Florida considers Bitcoin-focused crypto reserve under new House bill
Source: CryptoNewsNet Original Title: Florida considers Bitcoin-focused crypto reserve under new House bill Original Link:
Overview
A new bill filed in the Florida House seeks to establish a state-managed strategic crypto reserve, giving the state authority to acquire, hold, and invest in large-cap digital assets.
Sponsored by Rep. John Snyder, the legislation, House Bill 1039 (HB 1039), would authorize the creation of the Florida Strategic Cryptocurrency Reserve as a special fund managed by the state’s Chief Financial Officer outside the State Treasury.
Key Provisions
The bill grants Florida’s CFO authority to:
The reserve would be financed through legislative appropriations, investment earnings, and crypto acquisitions, including assets received through forks or airdrops.
Eligibility Criteria
Under the proposed legislation, only crypto assets with an average market capitalization of at least $500 billion over the prior 24 months would be eligible.
Based on current market values, Bitcoin, with a market capitalization of roughly $1.8 trillion, would qualify. Ethereum, currently valued at around $370 billion, could become eligible in the future if its market capitalization rises and is sustained over time.
Timeline and Status
The proposal would go into force on July 1, 2026, if passed.
The introduction of HB 1039 serves as the House companion to SB 1038, which was filed late last year. As of this week, the Senate version has already been referred to the Banking and Insurance Committee and two Appropriations committees, signaling a serious push for the bill in the 2026 session.
Context
This is not Florida’s first attempt to integrate Bitcoin into state finances. In October 2025, lawmakers introduced House Bill 183, a proposal that would allow the state to invest public funds in Bitcoin and other digital assets.