Florida has become the latest U.S. state to take a significant step toward adopting Bitcoin as a strategic reserve asset.
On April 10, House Bill 487 (HB 487) received unanimous approval from the House Insurance and Banking Subcommittee, signalling strong bipartisan support for the proposal.
The bill titled “Investments of Public Funds in Bitcoin” aims to allow Florida’s Chief Financial Officer and the State Board of Administration to invest up to 10% of major public funds in Bitcoin, including the General Revenue Fund and the Budget Stabilization Fund. It includes strict custody, security, and compliance guidelines and permits the state to loan its Bitcoin or use it in exchange-traded products to enhance its value. The bill has passed its initial phase, and three more legislative committees must be navigated before heading to a full House vote. If approved, it will go to the Senate and, upon further approval, to the governor for final authorization. This initiative reflects a growing trend among U.S. states to recognize Bitcoin as a legitimate asset class.
Leading this trend is Arizona, which appears to be ahead in the legislative race. By late March, the state’s Senate Bills 1373 and 1025—centred on establishing digital asset reserves—had already cleared the Senate and the House Rules Committee.
🇺🇸 State Reserve Race Update:
New Hampshire Bitcoin Reserve Bill passes the House! HB 302 was passed by vote of 192-179 this morning.
NH becomes just the fourth state legislature to pass Bitcoin Reserve legislation through one chamber. pic.twitter.com/Ydp5whMY4T
— Bitcoin Laws (@Bitcoin_Laws) April 10, 2025
These bills are now scheduled for a full House vote. If passed, they will only require Governor Katie Hobbs’ signature to become law, potentially making Arizona the first U.S. state to adopt a Bitcoin reserve strategy officially.
Meanwhile, New Hampshire’s House Bill 302, which proposes a Bitcoin reserve, has passed the House with a close vote of 192-179 and is now under Senate review. The bill would allow the state treasurer to invest up to 10% of authorized funds in Bitcoin and precious metals. Still, it restricts investments to assets with a market capitalization over $500 billion, a criterion currently only met by Bitcoin.
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