Florida Advances Bitcoin Reserve Push: HB 487 Passes Key Committee Vote

Florida has taken a significant step towards establishing a state Bitcoin reserve with the unanimous approval of HB 487 by its House Insurance and Banking Subcommittee on April 10th. This marks the first legislative hurdle cleared in this ambitious push for crypto adoption as part of Florida’s fiscal strategy. The bill, titled “Investments of Public Funds in Bitcoin,” allows the state to invest up to 10% of selected funds in Bitcoin through direct purchases, qualified custodians, or regulated exchange-traded products. This flexibility aims to maximize returns while ensuring ownership and security for the state.