Florida’s making waves, folks, diving headfirst into the crypto chaos with SB 550 and HB 487. These bills? They’re pushing to let the state invest up to 10% of certain assets in Bitcoin. Yeah, bold move! Governor DeSantis is all in, hyping Florida as a digital asset hotspot. Businesses might even pay state fees in Bitcoin soon. Inflation hedge or publicity stunt? Who knows. Stick around to uncover the gritty details.
Innovation, that slippery beast, seems to have Florida in its grip. The Sunshine State, not content with just beaches and gators, is diving headfirst into the wild world of Bitcoin. Legislation like SB 550 and HB 487, introduced in 2025, is shaking things up. It’s giving the Chief Financial Officer and State Board of Administration the green light to stash public funds—up to 10% of certain assets—in Bitcoin. Yeah, you heard that right. State reserves in crypto. Hedge against inflation, protect purchasing power, diversify the portfolio, blah blah blah. Oh, and position Florida as some digital asset pioneer? Sure, why not.
Now, let’s get real. HB 487, dubbed the “Strategic Bitcoin Reserve bill,” sailed through the House Insurance and Banking Subcommittee unanimously in April 2025. Unanimously! That’s rare in politics, folks. They’re talking direct purchases, secure custody, or even regulated exchange-traded products. Florida’s not messing around—they’re playing hardball with Bitcoin. Senator Joe Gruters is behind this push, aiming to make Florida a national hub for Bitcoin adoption. This bill also emphasizes strict security guidelines to ensure the state’s legal ownership of Bitcoin is protected.
And Governor DeSantis? He’s been cheerleading this crypto craze for years. Back in 2023, he signed CS/HB 273, defining virtual currency under state law and easing licensing for some crypto transactions. Guy’s basically rolling out the red carpet for digital dollars.
But wait, there’s more. Businesses might soon pay state fees with Bitcoin. A pilot program’s already launched, and a $200,000 budget allocation is fueling it. If SB 550 or HB 487 passes, those crypto payments get flipped to USD for the General Revenue Fund. Convenient, huh? It’s all about making Florida a hotspot for business, or so they claim. Smells like a publicity stunt, but hey, it’s working.
And don’t forget the blockchain buzz. The Florida Blockchain Task Force, born in 2019, is poking around for ways to use this tech in government—think recordkeeping, security, even Medicaid fraud detection. Budget proposals are tossing around $250k here, $250k there for pilot programs.
Ambitious? Sure. Crazy? Maybe. Senator Joe Gruters and Rep. Webster Barnaby are pushing hard, with DeSantis grinning in the background. Florida’s betting big on Bitcoin. Will it pay off? Who knows. But damn, it’s a wild ride.
