Florida's "Bitcoin Strategy Preparation Bill" indefinitely postponed | Cautious stance due to BTC price fluctuation risks

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The main points of this article

• Florida's BTC preparedness bill has been indefinitely postponed without a vote.
• The reason for the postponement is insufficient legislative schedule and concerns over BTC price fluctuations.
• The possibility of resubmission remains, but there are many challenges such as cautious arguments.

Table of Contents* 1. Florida Bitcoin Bill Postponed and Will Not Pass This Session

• 2. Background Leading to the Indefinite Postponement

• 2.1. Issues with the legislative schedule
• 2.2. Cautious Opinions and Risk Concerns Regarding the Bill
• 2.3. Positive assertions from proponent legislators

• 3. Current Status of the "Bitcoin Reserve" Bill Stalled in Each State
• 4. Possibility of Reintroduction of Florida BTC Bill and Future Outlook

• 4.1. An indefinite extension is not an 'end'.
• 4.2. What are the challenges for resubmission?

Florida Bitcoin Bill Delayed and Will Not Pass This Session

Two Bitcoin-related bills that were being discussed in the Florida legislature in 2025 will ultimately be postponed to the next session without being enacted.

The House bill "HB 487" and the Senate bill "SB 550" allowed a portion of state government funds to be invested in Bitcoin (BTC), but they were not approved in the plenary session by the end of the session on May 2, and were recorded as "discussion ended and withdrawn" on May 3.

As a result, Florida's plan to establish a "strategic Bitcoin reserve" will be postponed for the time being.

Background Leading to the Indefinite Postponement

Issues with the legislative schedule

The main background for the failure of this bill to pass is that the parliamentary discussion schedule has run out.

The Florida State Legislature has passed about 230 bills during this session, including those related to environmental protection and education policy, but this bill aimed at expanding the state's asset management appears to have been deemed a low priority.

Although the parliament extended the session, the focus was solely on the budget proposal discussions, and the Bitcoin Reserve Bill was not reconsidered.

Cautious views and risk concerns regarding the bill

There are voices pointing out that the background of the bill being postponed is also related to concerns about the volatility of Bitcoin.

There has been a strong view for some time that the price volatility is large and that it poses a high risk as a destination for public funds.

In the Florida State Legislature, it is believed that concerns over price volatility, along with the uncertainty regarding federal regulations on virtual currencies (cryptographic assets), have led to a cautious approach.

Similar situations have been seen in other states, and on May 3, 2025, a similar bill passed through the state legislature in Arizona, but Governor Katie Hobbs exercised her veto power, stating, "Pension funds are not a place to experiment with unproven assets."

The governor stated that the reason for exercising the veto power is that "the retirement pension fund is not a testing ground for assets without a track record," showing a strong sense of caution regarding the risks of public funds.

positive assertions of proponent legislators

On the other hand, former state treasurer Pattonis and Senator Grooters, who strongly supported this bill, actively endorsed the introduction of Bitcoin in terms of measures against rising prices and strengthening the financial foundation.

Mr. Patronis stated in a letter to the chairman of the State Board of Administration (SBA), which oversees state pension management, in October of last year that "when managing the pensions of firefighters, teachers, and police officers, the maximum return should be pursued."

He also stated that "investing in cryptocurrencies such as Bitcoin is now a very attractive option" and showed a positive stance on incorporating Bitcoin into the state's fund management.

Current Status of the "Bitcoin Reserve" Bills Stalling in Various States

Florida's attempt was part of the "Bitcoin reserve" initiative among various states in the United States, but similar bills have been stalling one after another this year.

Similar bills have been introduced in states such as Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma, but they have either failed to reach a vote in the legislature or were narrowly defeated.

This year, more than 45 Bitcoin-related bills have been submitted in over twenty state legislatures across the United States, but the hurdles to actually getting them passed into law have become apparent.

The Possibility of Reintroducing the BTC Bill in Florida and Future Prospects

The indefinite extension is not "finished".

The Bitcoin strategy preparation bills in Florida (HB 487 and SB 550) have been indefinitely postponed until May 2025, but the bills themselves have not been completely scrapped.

In fact, in Arizona, the Bitcoin reserve bill did not come into effect after being passed by the state legislature due to a veto by the governor, but the bill's sponsor is considering reintroducing it in the next session.

In Florida as well, there is a possibility that the legislators and industry groups who have been promoting this bill will consider reintroducing it.

What are the issues for resubmission?

However, there are still challenges remaining for the bill to be reconsidered and aimed for passage.

First, it is necessary to secure the legislative schedule, as there is a risk of insufficient deliberation time being pushed by other priority bills, as was the case last time.

Moreover, due to the strong caution regarding the price volatility risks of Bitcoin when public funds are invested, clear risk mitigation measures are also essential. Additionally, clarifying cryptocurrency regulations at the federal level may also encourage the deliberation of bills at the state level.

It has not been officially revealed whether Florida will reintroduce the Bitcoin reserve bill in the next legislative session.

However, the stakeholders who have been promoting the bill have not lost their willingness to make a second attempt, and it seems that industry insiders and investors will be paying close attention to future developments.

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Source: SB 550 / HB 487

Writing and Translation: BITTIMES Editorial Department

Thumbnail: Used with permission from Shutterstock.