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