PublicFunds

In a surprising turn of events, Florida has officially scrapped its plans to invest public money in Bitcoin — despite early support and bold ambitions.
Here’s what went down:
Two major bills — HB 487 and SB 550 — aimed at creating a Strategic Bitcoin Reserve using state funds were withdrawn and shelved on May 3, just as the legislative session closed.
That means:
No Bitcoin-backed treasury
No BTC investment from public funds
And no first-mover advantage for Florida in crypto finance
What was the plan?
HB 487 would've allowed Florida to invest up to 10% of key public funds — like the General Revenue Fund — into Bitcoin.
It even had clauses for BTC lending, exchange-traded products, and strict compliance rules.
But despite passing its first committee hearing unanimously, the bill died quietly without a final vote.
Florida’s not alone...
Similar efforts failed in Wyoming, South Dakota, Pennsylvania, Montana, North Dakota, and Oklahoma — even after some made significant progress.
Why the retreat?
Bipartisan concerns
Market volatility
Bitcoin still seen as “untested” for public finance
And good ol’ political hesitation
Arizona is still in the race
It passed two bills — SB 1025 and SB 1373 — to build a BTC reserve, but Gov. Katie Hobbs vetoed SB 1025.
Still, HB 2749 and SB 1373 remain active — proposing budget-neutral and limited Bitcoin investments.
What does it all mean?
The U.S. isn’t quite ready to back Bitcoin with state dollars — yet.
But pressure is building. As inflation bites and fiat fears grow, more states will revisit this question.
And whoever leads the charge next could shape the financial future of public governance.
Do you think states should invest in Bitcoin?
Or is it too risky for taxpayer money?
Drop your thoughts below!
#Bitcoin #Florida #CryptoNews #BTCReserve #PublicFunds