Florida lawmakers have revived a push to place bitcoin on the state’s balance sheet, filing House Bill 1039 for the 2026 session to create a Strategic Cryptocurrency Reserve Fund outside the treasury. The proposal would authorize the state’s chief financial officer to invest public funds in digital assets under guardrails that include audits, reporting requirements, and advisory oversight. The bill marks a reset from previous efforts, focusing on a reserve-style exposure rather than broad crypto investments.
Under HB 1039, the CFO would have discretion over whether and when to invest, and the bill does not mandate a minimum allocation. Earlier versions proposed allowing up to 10% of certain state-managed funds to be invested in bitcoin, but the new framework leaves deployment decisions to the CFO and places the reserve outside pension and retirement accounts. The legislation includes independent audits and the creation of an advisory committee to guide investment strategy and risk management. Supporters frame the proposal as a hedge rather than a bet, arguing it could diversify state-managed funds while addressing volatility.
The renewed effort is tied to parallel legislation in the Senate, with companion bills detailing the trust structure and funding mechanics for the reserve. Together, the House and Senate measures would govern how Florida acquires, holds, and manages digital assets. Although not naming bitcoin, the bills effectively limit eligibility to it by requiring assets with a market cap above $500 billion over the past 24 months, a threshold bitcoin currently exceeds. If passed, the measures would require committee hearings and floor votes in the 2026 session, with a conditional effective date of July 1, 2026.
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