Florida Pulls the Plug on State Bitcoin Investment Plans

By BUDDY JEWEL | MAY 06, 2025

Florida Considered a Strategic Bitcoin Reserve

House Bill 487 and Senate Bill 550 aimed to let the state invest up to 10% of public funds—like the General Revenue and Budget Stabilization Funds—into Bitcoin.

Legislation Gained Early Support

HB 487 passed its first committee unanimously in April, signalling rare bipartisan support for digital asset adoption in state finance.

Early Momentum

Both Bills Shelved Without a Vote

Neither bill advanced past the committee stage. After the legislative session ended, both were marked “indefinitely postponed.

What happened?

Florida’s Bitcoin Reserve Dreams End—for Now

With the bills withdrawn, Florida’s plan to invest public money in Bitcoin is off the table, halting momentum for crypto finance in state governance.

The Outcome