Florida Strategic Bitcoin Reserve

Current status is PROPOSED

SB550 introduced to authorize state Bitcoin investments, alongside pension fund initiative

Using rainy day funds, Florida could purchase 44,410 BTC assuming a BTC price of $100,000

Timeline
2/7/2025
PROPOSED

Senator Joe Gruters files SB550 to authorize state investment in Bitcoin and establish framework for public fund Bitcoin investments

Key Details:

  • Authorizes CFO to invest in Bitcoin for strategic purposes

  • Allows State Board of Administration to invest System Trust Fund in Bitcoin

  • Exempts Bitcoin investments from certain security requirements

  • Effective date: July 1, 2025

Bill: SB550Read More →
1/1/2025
PROPOSED

Florida Blockchain Business Association (FBBA) working with state officials to establish Bitcoin reserve through state's $185.7B pension fund. Proposal includes allocating 1% (~$1.85B) to Bitcoin investments.

Key Details:

  • Support from Gov. DeSantis and CFO Patronis

  • Proposed 'Digital Currency Investment Pilot Program'

  • Leveraging $116.5B budget surplus for FY 2024-25

  • Integration with Florida Growth Fund

Read More →

Rainy day fund data source: National Association of State Budget Officers

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