---

Florida has officially stepped back from the growing movement among US states to establish a Strategic Bitcoin Reserve (SBR).

According to the Florida Senate’s website, lawmakers have indefinitely postponed and withdrawn two critical pieces of legislation, House Bill 487 and Senate Bill 550, to enable public investment in Bitcoin.

Despite bipartisan support, particularly for HB 487 at the committee stage, the bills stalled early in the legislative process. Data from Bitcoin Laws confirms that neither bill advanced beyond the first committee hearing.

Meanwhile, Samuel Armes, founder of the Florida Blockchain Business Association, suggested the conversation isn’t over. He noted that while the bills appear stalled, there are still ways to reintroduce the language through budget negotiations currently underway.

He said:

“To the person in the outside, the bills seem dead but to those on the inside, we have another month to keep pushing.”

Is Bitcoin’s reserve bill momentum slowing?

Florida’s retreat follows Arizona Governor Katie Hobbs’ high-profile veto of a similar proposal.

Hobbs cited the absence of reliable historical data on Bitcoin’s performance as the reason for rejecting what was then the most advanced SBR bill in the nation.

The retreat in Florida now adds to a broader slowdown across the country. So far, at least eight states, including Arizona, Montana, North Dakota, Oklahoma, Pennsylvania, South Dakota, and Wyoming, have paused or abandoned similar initiatives.

Nationwide, the number of states actively considering SBR-related legislation has dropped to 19, with 36 bills still under discussion. These proposals aim to reshape how states manage long-term reserves by including decentralized digital assets like Bitcoin.

Meanwhile, efforts for the initiative continue at the federal level. President Donald Trump has signed an executive order directing the development of a national Bitcoin reserve.

However, some industry experts remain skeptical of the plan. BitMEX co-founder Arthur Hayes argued the US is unlikely to expand its holdings due to fiscal concerns and lingering biases against Bitcoin culture.

Senator Joe Gruters said Florida is positioned to lead the nation in integrating Bitcoin (BTC) into state-level financial reserves. 

In remarks made during an interview with Florida Blockchain Business Association founder Samuel Armes, Gruters highlighted that his legislative vision is to incorporate Bitcoin into public financial infrastructure as part of a broader economic policy framework centered on inflation protection and fiscal autonomy.

Bill S0550, introduced on March 4, permits Florida’s Chief Financial Officer to allocate up to 10% of assets from key funds to Bitcoin. 

The measure also extends investment authority to the State Board of Administration, which manages Florida’s pension system. Gruters said the legislation reflects Florida’s ongoing effort to position itself as a national hub for Bitcoin adoption and financial sovereignty.

He added:

“[The bill] allows us as the state of Florida to hold some reserves, to be able to invest some of our pension dollars and other funds into cryptocurrencies. We should be the state that leads in this effort.”

State-level Bitcoin policy follows federal signals

Gruters framed the legislation as a broader political realignment toward digital assets. Referencing former President Donald Trump’s recent endorsement of Bitcoin reserve strategies, Gruters said the state is prepared to follow that lead with actionable policy. 

“The president himself came out and basically said America is gonna be the Bitcoin capital of the world. We’re glad to follow his lead on this.”

He added that Bitcoin’s appeal among his supporters extends beyond financial returns. These people love freedom, and Florida wants to be a “pro-freedom state.”

Gruters, who serves as treasurer of the Republican National Committee and has been involved in digital asset policy for several years, tied Bitcoin adoption to his broader fiscal agenda, including reforms to Florida’s insurance markets. 

“It’s about doing all we can to fix that, to make it transparent, to try to take away some of that volatility in pricing. And at the same time, make sure that we get these costs under control.”

He also pointed to Florida’s recent role during the COVID-19 pandemic as a destination for what he described as “economic refugees, ” demonstrating the state’s ability to attract residents seeking fiscal autonomy and regulatory clarity. 

“That’s why Bitcoin and other cryptocurrencies have so many opportunities, because they can come here in Florida. We’re going to embrace them.”

Gruters expressed confidence that Florida’s policy direction would influence other states, calling it “the place to be” and stating that “the country really follows us in terms of what we do.”

Referring to the federal government’s posture toward Bitcoin under Trump’s leadership, Gruters said he believes the digital currency will also play a central role in national reserves. 

“It will be a strategic reserve of the United States and an investment in the second-largest state in the country, like Florida. It’s come full circle.”

Mentioned in this article