Florida’s Insurance and Banking Subcommittee unanimously passed a bill supporting a state-level Bitcoin Reserve. It will now head to the legislature. This is the first state Bitcoin reserve bill to pass the House committee with zero votes against it.
Although most of the initial comments were highly skeptical due to recent market chaos and fiscal conservatism, state sponsor Webster Barnaby and other supporters won them over.
Florida Advances in the State Race for a Bitcoin Reserve
Over the last few months, a spate of Bitcoin Reserve bills has swept through US state legislatures. Although these initiatives have seen setbacks due to funding concerns, they have also had noteworthy successes.
Today, the US crypto industry can count on another win, as Florida’s Insurance and Banking Subcommittee unanimously voted to approve a Bitcoin Reserve:
“Bitcoin Strategic Bill Passes House Committee unanimously. Today’s remarks was a historical moment, and I am proud to have been a part of it with Samuel Armes and Florida. Bitcoin is the PEOPLES currency,” claimed Joshua Jake, who spoke in favor of the initiative.
Florida’s Bitcoin Reserve bill also marks a new milestone, even if it’s only a Subcommittee vote. This bill passed with complete bipartisan support, without a single Democrat siding against the bill.
One of the Representatives either abstained or was absent, but everyone present was swayed by the argument.
The bill proposes that the Flordia state government invest $1.5 billion in public funds to build a strategic BTC reserve.
Although the Subcommittee hearing was initially skeptical, partially due to recent tariff-imposed chaos, sponsor Webster Barnaby maintained an impassioned defense.
By the end, he and the Bitcoin Reserve bill’s other supporters had wholly won over this Florida Subcommittee. From here, it will head to the legislature.
Over 30 states have proposed reserve bills so far. Arizona is currently leading the race, with both of its Bitcoin bills reaching the final stage and waiting for a decision from the Senate.
Meanwhile, similar bills have already failed in five states, including Montana and Wyoming. The fact that Florida’s House Committee showed unanimous support could provide the state with an edge in this race.
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