Florida considers Bitcoin-focused crypto reserve under new House bill

Florida Representative John Snyder has introduced House Bill 1039 (HB 1039) to create the Florida Strategic Cryptocurrency Reserve, a special fund managed by the state's Chief Financial Officer (CFO) outside the State Treasury. The bill authorizes the CFO to acquire, hold, invest in, and sell large-cap digital assets, use derivatives, and engage third-party custodians. To qualify, crypto assets must maintain an average market capitalization of at least $500 billion over the preceding 24 months, making Bitcoin currently eligible. The reserve would be funded by legislative appropriations, investment earnings, and crypto acquisitions like forks or airdrops. This legislation is the House companion to Senate Bill 1038, which is already moving through Senate committees, suggesting a serious legislative effort for the 2026 session, with an effective date of July 1, 2026, if passed.

(Source：Crypto Briefing)