Florida Senate Proposes Bill to Acquire and Hold Bitcoin
House Bill 183 would enable Florida's state funds to allocate up to 10% to Bitcoin, other cryptocurrencies, and related assets like NFTs, marking a significant step toward broader digital asset adoption by government entities.
BTC
Fact Check
The statement is confirmed by multiple primary sources from the official Florida Legislature websites. Evidence from flsenate.gov explicitly shows Senate Bill 550 (2025), which authorizes the state's Chief Financial Officer to invest in Bitcoin. Additionally, House Bill 487 (2025), also listed on the Senate website, contains similar provisions. This is corroborated by several secondary news sources.
Summary
The Florida legislature has introduced House Bill 183 for the 2026 session, permitting up to 10% of public funds, including those from the Florida Retirement System trust, to be allocated to Bitcoin and digital assets. The bill also allows for investments in tokenized securities and NFTs under strict management guidelines.
Terms & Concepts
- Bitcoin: A decentralized digital currency that operates without a central bank, using blockchain technology for secure peer-to-peer transactions.
- NFTs: Non-fungible tokens, unique digital assets stored on a blockchain, representing ownership of a specific item or piece of content.
- Florida Retirement System: A state-managed pension fund in Florida that provides retirement benefits to public employees.