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Florida revives push for bitcoin reserve with new 2026 bill
House Bill 1039 would let Florida invest in crypto outside its treasury, reviving a withdrawn proposal and signaling the GOP’s growing embrace of ‘digital gold.’
Jan 8, 2026, 12:36 p.m.
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What to know:
- Florida lawmakers are considering a bill to establish a state-run cryptocurrency reserve, reviving a previous effort that stalled.
- House Bill 1039, filed for the 2026 legislative session, would allow the state to invest in digital assets under specific risk controls.
- If passed, Florida would join other states like New Hampshire and Texas in advancing digital-asset legislation.
Florida lawmakers reignited a push for legislation to include digital assets on the state’s balance sheet, reviving a proposal to create a state-run cryptocurrency reserve after a similar effort stalled earlier this year.
Filed by Republican Rep. John Snyder on Jan. 7 for the 2026 legislative session, House Bill 1039 would establish a Strategic Cryptocurrency Reserve Fund outside the state treasury and authorize Florida’s chief financial officer (CFO) to manage crypto investments under defined risk controls.
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The bill calls for independent audits and an advisory committee and revives ideas from withdrawn 2025 legislation that would have allowed up to 10% of certain state funds to be allocated to bitcoin . The proposal does not mandate a minimum allocation, instead granting the CFO discretion over whether and when to deploy funds.
The renewed effort has ties to Florida State Senator Joe Gruters, an ally of President Trump who backed earlier versions of the proposal, underscoring bitcoin’s growing appeal as a potential hedge or “digital gold.”
The fund, which will be managed by the State’s Chief Financial Officer (CFO), according to the bill, is designed to serve as a shield against inflation.
Chief Financial Officer Jimmy Patronis has supported the effort, describing bitcoin as “digital gold” in public statements and stating that limited exposure could enhance diversification within state-managed funds.
If enacted, Florida would join a small but growing group of U.S. states advancing digital-asset legislation, including New Hampshire and Texas. Wyoming passed dozens of crypto-friendly laws clarifying the legal status of digital assets and blockchain firms, while New Hampshire recently became the first state to enact a law explicitly allowing public funds to be invested in cryptocurrencies, creating a precedent Florida lawmakers have pointed to.
The proposal also fits within Florida’s broader approach to digital money. In 2023, Governor Ron DeSantis signed legislation barring central bank digital currencies (CBDCs) from being recognized under the state’s commercial code, positioning Florida as skeptical of federally issued digital money while remaining open to decentralized alternatives.
HB 1039 is expected to be taken up during the 2026 legislative session. If approved by both chambers and signed into law, implementation would follow on a timeline set by the bill, potentially making Florida one of the largest U.S. states to formally experiment with crypto as a reserve-class asset.
