Florida Slams Door on Bitcoin Reserve Proposal—Another State Bails on Crypto Experiment
Florida just joined the anti-Bitcoin brigade, rejecting legislation that would’ve let the state hoard BTC as treasury reserve. Another win for the ’wait-and-see’ crowd—or just politicians scared of volatility?
Key details: The bill mirrored efforts in Texas and Wyoming but got shredded in committee. Critics called it a ’reckless gamble’ with taxpayer money—because clearly, traditional investments like bonds and inflation are *so* stable these days.
Bottom line: While crypto advocates push for institutional adoption, state governments keep treating Bitcoin like a radioactive asset. Guess they’d rather stick to the old playbook: print, borrow, repeat.
One by one
In Oklahoma, a strategic reserve bill passed one committee by a wide margin but was struck down in a 6–5 vote by the Senate Revenue and Taxation Committee on April 29.
Senator Christi Gillespie flipped to a “yes” vote after hearing from constituents, but the bill failed anyway.
South Dakota’s HB 1202 was rejected in February in a 9–3 vote, with lawmakers expressing concerns about Bitcoin’s volatility.
Montana’s House Bill 429, meanwhile, was defeated days earlier in a 59–41 floor vote despite being framed as a diversification strategy. North Dakota’s HB 1184 met a similar fate, falling short in February by 57–32.
The legislative setback in Pennsylvania came without drama; the crypto investment bill introduced in late 2024 never advanced.
Wyoming’s effort was also voted down in committee, with just one lawmaker supporting it.
Even Utah, considered an early frontrunner, amended its own blockchain bill to strip out a key provision that would have allowed the state treasurer to invest in digital assets. The final version passed without it.
That’s a sharp turn from just weeks ago, when more than 45 Bitcoin reserve bills had been introduced in over two dozen states.
As of early May, only 36 remain active in 19 states, according to data compiled by Bitcoin reserve tracker BitcoinLaws.
Texas and New Hampshire remain the most viable contenders, with both states’ legislatures advancing their Bitcoin reserve proposals.
With legislative calendars closing, many of the remaining proposals are now racing against the clock. Others, like Rogers’, are preparing for round two.
Edited by Sebastian Sinclair
