Florida’s plan to incorporate Bitcoin into state reserves will take center stage on April 10 as House Bill 487 (HB 487) faces its first public hearing before the Insurance and Banking Subcommittee. The legislation, introduced earlier this year by Representative Webster Barnaby, seeks to authorize the state’s Chief Financial Officer to allocate a portion of public funds into Bitcoin as a financial hedge.
If passed, the bill would establish Florida’s first state-managed Bitcoin reserve—a move supporters argue could act as a safeguard against inflation while positioning the state as a forward-thinking player in financial innovation. The hearing will allow lawmakers, policy experts, and the public to weigh in on the bill’s fiscal and regulatory implications.
The initiative reflects a broader trend among U.S. state legislatures exploring digital assets as part of diversified financial planning. With growing interest in blockchain-backed reserves and inflation-resistant assets, Florida’s debate could set a precedent for other states evaluating similar proposals.
As lawmakers examine the bill’s feasibility, discussions are expected to cover core concerns, including custodial security, regulatory compliance, and Bitcoin’s long-term volatility.
Florida’s Bitcoin Bet Could Set a National Precedent
As HB 487 heads into its first public hearing, Florida is positioning itself as a national trailblazer in digital asset strategy. Known for its tech-forward stance, the state has already taken major steps to welcome blockchain and cryptocurrency businesses. The proposed creation of a Bitcoin reserve would further elevate Florida’s profile as a crypto innovation hub.
Following its introduction, HB 487 was referred to multiple committees, including the Insurance & Banking Subcommittee, Government Operations Subcommittee, Ways & Means Committee, and the Commerce Committee. The upcoming hearing before the Insurance and Banking Subcommittee marks the first opportunity for stakeholders, industry experts, and citizens to offer input on the bill.
This moment could prove pivotal. Florida’s legislative experiment is already drawing attention beyond state lines. As federal policymakers and other U.S. states watch closely, the outcomes of HB 487—whether successful or stalled—may serve as a blueprint for similar efforts elsewhere.
If enacted, Florida’s reserve policy would signal a significant step toward institutional acceptance of Bitcoin in public finance. Conversely, failure to pass or implement the bill effectively could raise fresh questions about crypto’s role in government-backed systems. Either way, the legislative path of HB 487 will influence the growing conversation around digital assets and their integration into modern state-level economic frameworks.
Quick Facts
- HB 487 proposes allowing Florida’s CFO to invest up to 10% of certain public funds in Bitcoin.
- The bill’s first public hearing is scheduled for April 10, 2025, before the Insurance and Banking Subcommittee.
- The legislation includes provisions for secure custody and management of Bitcoin assets.
- Florida’s initiative reflects a growing interest among states in incorporating digital assets into public finance strategies.
