Florida bill proposes state-run Bitcoin-backed reserve
House Bill 1039, introduced by Rep. John Snyder, would authorize the creation of a state-run cryptocurrency reserve denominated or backed in Bitcoin. The measure frames the reserve as a strategic asset-management tool for Florida, giving lawmakers and financial managers a formal path to hold and manage digital assets under state oversight. If the bill advances, it could set a notable precedent for other U.S. states weighing public-sector exposure to crypto. Supporters point to diversification and innovation benefits, while critics will likely highlight price volatility, custody and compliance challenges, and the need for clear governance rules. The bill’s next steps will test how Florida balances risk management, custodial arrangements, and regulatory alignment if it moves from proposal to implementation.