Florida’s Bitcoin Reserve Bill Dreams Crushed… Again

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Well, folks, Florida just pulled the ultimate “hold my beer” move on Bitcoin strategy, because two of their crypto bills got *ahem* “indefinitely postponed” (aka, quietly pushed under the rug).

On May 3, Florida’s House Bill 487 and Senate Bill 550—aka, the state’s big plans to jump on the Bitcoin reserve bandwagon—were officially canceled. You know, just in case you were planning on having your tax dollars invested in crypto and getting rich off that sweet, sweet volatility.

But wait, there’s more! Florida’s legislative session wrapped up on May 2 without passing these groundbreaking bills, which could have established a crypto reserve fund for the state. Because, you know, protecting parks and banning school smartphones is way more important than, say, adding a Bitcoin fund to Florida’s state treasury.

Despite having 230 bills passed (and none of them involving Bitcoin), lawmakers did agree to extend the session until June 6. Because who needs a summer break when there are budget plans to obsess over?

HB 487 was introduced back in February, and would have allowed Florida’s CFO and the State Board of Administration to invest up to 10% of certain state funds in Bitcoin. SB 550 was filed around the same time, just in case you were wondering if Florida could’ve had a double whammy of crypto investment. Spoiler alert: They didn’t.

Now, Florida joins the ranks of states like Wyoming, South Dakota, and Montana in the “We Tried, but Bitcoin’s Too Risky” club. The other members of this prestigious group? They’ve also watched their Bitcoin bills go *poof* in thin air.

Arizona: Can You Save the Day?

But wait! Arizona is still fighting the good fight. Just days before Florida gave up on its Bitcoin dreams, Arizona came *so* close to having its own digital asset reserve, until Governor Katie Hobbs said, “Nope” and vetoed House Bill 1025. Her reasoning? Digital assets are “untested investments.” Yeah, because your stocks are doing soooo well right now, right?

Crypto lovers everywhere were left scratching their heads in disbelief, including Bitcoin champion Anthony Pompliano, who had this to say: “Imagine the ignorance of a politician to believe they can make investment decisions.” Touché, Pompliano. Touché.

But don’t worry, Arizona is still in the game. According to Satoshi Action Fund’s Dennis Porter, Arizona has two more chances to be the first state in the nation to officially establish a Bitcoin reserve. The real contender is HB 2749, a *budget-neutral* bill that plans to fund the reserve using profits from unclaimed property funds. How? Because apparently, unclaimed property funds are just sitting around, waiting to be turned into Bitcoin.

There’s also SB 1373, a bill that could allow the state treasurer to allocate up to 10% of Arizona’s state funds into digital assets. The only thing standing in the way? You guessed it: A final vote. Stay tuned, folks, because this drama isn’t over yet!

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2025-05-06 07:40