Florida Pushes for Bitcoin Inclusion in Public Funds

Florida lawmakers have introduced a bill aiming to incorporate Bitcoin into state investment portfolios, potentially injecting up to $1.8 billion into the market. Known as House Bill 183, the bill proposes allocating up to 10% of public funds to digital assets, including Bitcoin and other cryptocurrencies like ETFs, tokenized securities, and non-fungible tokens (NFTs). Introduced by Representative Webster Barnaby, this move signifies a shift towards embracing digital assets. The bill also allows residents to utilize Bitcoin for certain taxes and fees, marking a significant change in Florida’s financial structure. Reactions have been largely positive, with support from the Florida Blockchain Business Association and optimistic public sentiment on social media. The potential impact of this initiative is expected to be substantial, as it follows a U.S. Presidential Executive Order on Bitcoin feasibility studies and could lead to broader cryptocurrency adoption among state governments.