Florida’s Bitcoin Reserve Bills Fail in 2025 Legislative Session

Florida’s push to become the first U.S. state to hold Bitcoin in its public reserves has officially stalled. House Bill 487 and Senate Bill 550, which proposed allowing the state’s Chief Financial Officer to invest public funds in Bitcoin, failed to pass before the Florida Legislature adjourned its 2025 session on May 2. Both bills were indefinitely postponed and withdrawn from consideration.

Introduced by Representative Webster Barnaby and Senator Joe Gruters, the legislation would have permitted up to 10% of select state funds, including the General Revenue Fund, to be invested in Bitcoin. The bills also included provisions for securely holding Bitcoin, potentially loaning it under certain conditions, and accepting tax payments in the cryptocurrency—converted to U.S. dollars upon receipt.

Supporters of the bills argued that Bitcoin could serve as a strategic hedge against inflation and a way to diversify state holdings. However, critics expressed concern over the asset’s price volatility and the risk it could pose to public finances.

With these proposals now shelved, Florida joins other states like North Dakota and South Dakota, where similar Bitcoin reserve initiatives have also failed to gain legislative traction.

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