They proposed to invest up to 10% of state funds in BTC, with custodians or via ETFs.
Both projects shared almost the same objectives and guidelines.
Florida, one of the territories that had awakened the most attention for the creation of a Bitcoin treasury, will have to continue waiting. HB 487 and SB 550 projects, which authorized public investments in BTC and defined criteria for their custody, were postponed indefinitely after reaching only 25% of the legislative process.
The state in question stood out as The most ambitious in the race to establish this strategic reservethanks to an environment favorable to cryptocurrencies that was driven by key figures such as the former mayor of Miami, Francis Suárez, who positioned to the city as an epicenter of digital assets and was the first American politician to receive his salary entirely in Bitcoin.
For his part, Governor Ron Desantis, Presidential Exprecandidato, had also manifested as a firm defender of Bitcoin. However, the recent scandal that links it to the Hope Florida Foundation – acted of embezzlement – has tarnished the impulse of several republican initiativesgenerating tensions even within the party itself.
This situation in Florida keeps a certain parallel with what happened in Arizona, where the bill SB 1025 He exceeded all legislative stages, but was finally vetoed by Governor Katie Hobbs. This decision unleashed criticism of both Bitcoiners and US officials, in tune with a recent opinion published in cryptooticies, which highlights the key role of public pressure in these processes.
Thus, the projects HB 487 and SB 550presented in February 2025 at the House of Representatives and the Senate of Florida respectively, sought to enable the State to allocate up to 10% of certain public funds to the acquisition of BTC, with the aim of protecting against inflation and diversifying reserves. Both initiatives contemplated using safe custody mechanisms, the possibility of Generate additional income through fund loans and the acceptance of state payments in Bitcoin. Strictly speaking, the two proposals were almost identical.
The proposals HB 487 and SB 550, presented in February 2025 by the webster Barnaby representative and Senator Joe Gruters (both Republicans), were indefinitely postponed one day after the legislative session of May 2, without being subjected to vote. Although both initiatives did not prosper, the HB 487 project had advanced with some impulse, achieving a approval at his first hearing before the Insurance Subcommittee and Chamber Banking.
The reasons behind the project file were not publicly detailed by the Legislature, but the context suggests several factors. First, so far from 2025, the state of Florida has approved Multiple billsprioritizing more traditional issues such as budget, education, environment and social policies. This indicates that the diversification of the state portfolio with cryptocurrencies was not exactly an urgent issue, so The lack of political consensus was the order of the day. In addition, the concerns raised by figures such as the governor of Arizona, Katie Hobbs, probably had an impact on the position of legislators.
Similarly, the failure of similar initiatives in states such as Wyoming, North Dakota, Pennsylvania, Montana and Oklahoma reflects an attitude of caution and possible conflicts of interest among politicians around Bitcoin. In the case of Florida, this context could have discouraged legislators to promote a proposal that demanded a complex debate and a consensus difficult to achieve in a legislative session already filled with priorities.
HB 487 and SB 550 projects were filed, without the possibility of advancing in the short term. In Florida, this designation implies that They will not be reconsidered in the remainder of the legislative cyclealthough it does not rule out future attempts. Their sponsors, Webster Barnaby and Joe Gruters, could re -present similar proposals in 2026, either as new bills or including them in budget negotiations.
Far from being interpreted as an invitation to throw in the towel, the case of Florida must remind us that Advances in favor of Bitcoin also need strong popular pressure. On this occasion, the efforts did not translate into the necessary impulse to counteract political inertia or the concerns of the opponents. Therefore, it is convenient to pay attention to the efforts that many bitcoiners are doing to reverse the veto in Arizona, and thus pave the way for a new attempt.