YEREVAN (CoinChapter.com) —
Florida’s Insurance and Banking Subcommittee approved the Florida Bitcoin Reserve Bill with no opposition. The bill suggests a $1.5 billion Bitcoin Reserve, fully funded by public money. It now moves to the Florida legislature for further debate.
State Representative Webster Barnaby sponsored the bill. He addressed early concerns about Bitcoin’s market instability and public fund risk. His statements swayed the room. All members present supported the proposal. One member did not vote due to absence or abstention.
This is the first Bitcoin Reserve bill to pass a state House committee without a single vote against it. The result marked a rare bipartisan agreement in crypto-related policymaking.
Skepticism Overcome in Bitcoin Reserve Bill Vote
Initial reactions in the Subcommittee were cautious. Lawmakers voiced doubts about the risks involved in creating a Florida BTC reserve. Concerns included recent price swings and the responsibility of handling state money.
Still, Barnaby defended the plan during the hearing. He said the Bitcoin Reserve bill served strategic long-term goals. He argued that a state Bitcoin law like this could strengthen Florida’s financial position during future market challenges.
Joshua Jake, a known figure in Florida’s crypto space, attended the hearing and shared his comments after the vote.
“Bitcoin Strategic Bill Passes House Committee unanimously… I am proud to have been a part of it with Samuel Armes and Florida. Bitcoin is the PEOPLES currency.”
The Subcommittee vote was required before the bill could advance. The proposal now awaits discussion in the full legislature.
Florida Joins Over 30 States With Active Bitcoin Reserve Bills
More than 30 U.S. states have introduced or reviewed similar bills in recent months. These proposals focus on building state-level reserves of Bitcoin using public funds. Most states aim to use the reserves as a financial buffer, not as currency.
The Florida BTC reserve plan stands out due to its size and lack of opposition. The $1.5 billion Bitcoin Reserve would be among the largest state-backed cryptocurrency reserves in the country if approved.
In comparison, Arizona has two Bitcoin Reserve bills awaiting a Senate decision. Montana and Wyoming have already seen their Bitcoin bills rejected at earlier stages.
The Florida Bitcoin Reserve Bill now moves forward with stronger momentum. Lawmakers will soon debate its passage in the legislature.
The next step for the Bitcoin Reserve bill vote is the state legislature. If passed, Florida would become the first U.S. state to approve a full-scale, government-backed Bitcoin Reserve.
The bill does not suggest using Bitcoin for payments or replacing the U.S. dollar. Instead, the focus is on building a strategic BTC reserve as part of the state’s financial tools. The plan is to manage part of the state’s public funds by buying and holding Bitcoin.
The full legislature will review the bill in the coming weeks. If approved, Florida will officially enter the group of U.S. states with active state Bitcoin laws under implementation.