# HB1039 Related Articles

Florida Lawmakers Revive Strategic Bitcoin Reserve Efforts With New Proposal

Florida state representative John Snyder introduced House Bill 1039 to establish a state-run Strategic Cryptocurrency Reserve focused on Bitcoin. The reserve aims to hedge against inflation and enhance economic security for residents. It would be managed by the State Chief Financial Officer (CFO) and funded through legislative appropriations, dedicated revenue, and investment earnings. Only cryptocurrencies with a 24-month average market cap of at least $500 billion qualify—currently only Bitcoin meets this criterion. The bill follows previous unsuccessful legislative efforts to create a Bitcoin reserve in Florida. If passed, Florida would join states like Texas and Arizona in adopting a state Bitcoin reserve strategy.

bitcoinist01/09 07:33