Florida Plans to Invest Bitcoin in Retirement Funds

The state of Florida aims to make a significant step in the cryptocurrency world by introducing a new bill that allows for investment of up to 10% of public funds and the pension system into digital assets such as Bitcoin. This bill, prepared by State Representative Webster Barnaby, was presented to the Florida House of Representatives under the number HB 183 and could open the door to a model of crypto investment based on agreements.

The bill authorizes the state's Chief Financial Officer (CFO) and local governments to invest up to 10% of public funds such as the general revenue fund and budget stabilization fund into digital assets or crypto ETFs. If this law passes, the Florida Retirement System will also have the opportunity to invest in digital assets in a similar manner. The definition of “digital asset” in the bill encompasses Bitcoin, tokenized securities, and NFTs.

HB 183 identifies Bitcoin as a hedge against inflation and a store of value. The bill also references the federal "Strategic Bitcoin Reserve" executive order created by the White House in March 2025. The law is planned to come into effect on July 1, 2026, which seems likely to increase investor interest.

The new regulation also grants Florida citizens the ability to pay certain taxes and fees with crypto assets. Payments will be converted to dollars during the transaction and transferred to the state's general budget. This could further enhance investors' interest in crypto assets.

Florida's initiative comes after similar laws were adopted by states like Arizona, New Hampshire, and Texas in 2025. Julian Fahrer, founder of the "Bitcoin Laws" platform, noted that over 50 reserve bill proposals have been presented across the U.S. this year, stating, “Although many have been shelved before the end of the legislative session, I expect this number to increase even more in 2026.” Currently, HB 183 is awaiting committee approval, and in order for the bill to come into effect, it must pass both the Senate and receive the governor's signature.