Florida takes a fresh look at digital assets as state lawmakers propose House Bill 183 during the 2026 legislative session. House Bill 183 would allow public funds, such as the General Revenue Fund and Budget Stabilization Fund, to put up to 10% of their value in Bitcoin or Bitcoin-backed ETFs. The state retirement system could follow similar guidelines but must also rely on recommendations from the State Board of Administration investment officer and comply with governance and risk-mitigation procedures, including asset recovery processes and law enforcement cooperation, if it invests in Bitcoin or ETFs
Former CFO Jimmy Patronis, who called Bitcoin “digital gold,” supports using crypto to diversify the state’s portfolio. The bill contains tight custody provisions and complies with asset safety and custody requirements in the bill to ensure that any digital asset is managed by a qualified custodian and abides by strict protocols mandated by the Federal Government.
In addition to Bitcoin, it could involve tokenized securities and NFTs, signaling Florida’s cautious yet bold step toward modernizing its investment strategy.