Florida Senator Joe Gruters has introduced a bill that would allow state assets to be invested in Bitcoin and other cryptocurrencies, with the limit being 10% of any account.
The bill proposes to use funds from the General Revenue Fund, the Budget Stabilization Fund, and state trust and agency funds to invest in digital assets.
The trustees of the State Board of Administration could also be authorized to invest the money of the Retirement System Trust Fund in bitcoin. The Florida Chief Financial Officer would oversee the process, the bill states.
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Florida introduces bill to create strategic bitcoin reserve
Florida introduces bill to create strategic bitcoin reserve
08.02.2025
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Florida introduces bill to create strategic bitcoin reserve. Main news collage.
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Pavel Kot
Author of the article
The bill proposes to invest up to 10% of state funds in Bitcoin.
The initiative was submitted by Republican Senator Joe Gruters.
The state's interest in cryptocurrencies increased after the election of Donald Trump as US president.
Florida Senator Joe Gruters has introduced a bill that would allow state assets to be invested in Bitcoin and other cryptocurrencies, with the limit being 10% of any account.
The bill proposes to use funds from the General Revenue Fund, the Budget Stabilization Fund, and state trust and agency funds to invest in digital assets.
The trustees of the State Board of Administration could also be authorized to invest the money of the Retirement System Trust Fund in bitcoin. The Florida Chief Financial Officer would oversee the process, the bill states.
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State officials previously reported that the region already holds about $800 million in cryptocurrency assets, a figure they say could increase, especially if Donald Trump wins the November 2024 presidential election.
The Gruters bill emphasizes that investments in Bitcoin will not be subject to additional security requirements for potential investments, which has raised concerns among some experts.
In February 2025, several US states introduced their legislative initiatives to create cryptocurrency reserves. These are Missouri, Iowa, Kentucky, and New Mexico. In total, 23 states are already considering such bills.