Florida Reintroduces Bitcoin Investment Bill in Legislature

Florida House Representative Webster Barnaby has refiled a bill (HB 183) proposing the allocation of up to 10% of public funds into Bitcoin and crypto exchange-traded funds (ETFs). This move comes after the bill’s initial attempt failed, but renewed support for the initiative could lead to its passage. The proposal aims to diversify Florida’s financial portfolios through a direct investment in the cryptocurrency market. Florida is following a trend seen in other states like Wisconsin, which has made small-scale Bitcoin ETF investments. This approach aligns with CFO Jimmy Patronis’ view of Bitcoin as a potential tool for combating currency fluctuations.