- Florida’s HB 487 lets the state allocate 10% of reserves directly into BTC.
- State-led BTC adoption may trigger updated federal crypto accounting rules.
- Arizona and New Hampshire join Florida in advancing strategic Bitcoin bills.
Florida advanced a bill to invest state funds in Bitcoin, signaling growing institutional confidence in digital assets. House Bill 487 passed its first committee on April 10 with unanimous support. The legislation could influence crypto adoption at the state level nationwide.
Florida Approves BTC for Strategic Reserves
According to a post by Crypto Patel, Florida’s Insurance and Banking Subcommittee approved HB 487 without a single vote against. He called it “a massive step toward state-level crypto adoption” and noted the potential for bullish market momentum. Traders are now watching for signals from other states considering similar moves.
The approval allows Florida’s CFO and State Board of Administration to invest as much as 10% of key funds in Bitcoin. They are the General Revenue Fund and Budget Stabilization Fund, which are essential to the state’s fiscal health. Investors see this as formal recognition of Bitcoin’s role in portfolio diversification.
As the bill gains traction, Bitcoin’s status as a macro-hedge asset could be further validated. Institutional observers believe that widespread state participation would pressure federal regulators to update crypto accounting standards.
Custody, Yield, and Compliance Mechanisms
Under HB 487, digital assets must be custodied through regulated entities or accessed via exchange-traded products. Florida also requires full compliance with fund security rules to ensure transparent asset management. These safeguards aim to protect public money from high-risk exposures.
The bill also permits lending and income-generating strategies involving Bitcoin, offering the state flexibility in managing reserve performance. If adopted, this would mark one of the first state-led yield strategies involving crypto. Broader confidence in Bitcoin by governments may push valuations higher despite external market volatility. Regulatory clarity around crypto reserves could emerge as states expand their frameworks. Such moves may eventually shape national guidelines for digital asset disclosures.
More States Signal Bitcoin Adoption Momentum
Arizona and New Hampshire are also pushing Bitcoin reserve bills forward this month. Arizona’s SB1373 and SB1025 have cleared committee stages and await full House votes. If passed, they would only need the governor’s signature to become law.
New Hampshire’s HB302 passed in a close House vote and now faces Senate review. That bill limits eligibility to assets with over $500 billion in market cap, leaving only Bitcoin. These combined efforts could redefine how U.S. states treat BTC under public finance law.
