Senator says Florida will lead US efforts to hold Bitcoin as a strategic reserve

Senator Joe Gruters said Florida is positioned to lead the nation in integrating Bitcoin (BTC) into state-level financial reserves. 

In remarks made during an interview with Florida Blockchain Business Association founder Samuel Armes, Gruters highlighted that his legislative vision is to incorporate Bitcoin into public financial infrastructure as part of a broader economic policy framework centered on inflation protection and fiscal autonomy.

Bill S0550, introduced on March 4, permits Florida’s Chief Financial Officer to allocate up to 10% of assets from key funds to Bitcoin. 

The measure also extends investment authority to the State Board of Administration, which manages Florida’s pension system. Gruters said the legislation reflects Florida’s ongoing effort to position itself as a national hub for Bitcoin adoption and financial sovereignty.

He added:

“[The bill] allows us as the state of Florida to hold some reserves, to be able to invest some of our pension dollars and other funds into cryptocurrencies. We should be the state that leads in this effort.”

State-level Bitcoin policy follows federal signals

Gruters framed the legislation as a broader political realignment toward digital assets. Referencing former President Donald Trump’s recent endorsement of Bitcoin reserve strategies, Gruters said the state is prepared to follow that lead with actionable policy. 

“The president himself came out and basically said America is gonna be the Bitcoin capital of the world. We’re glad to follow his lead on this.”

He added that Bitcoin’s appeal among his supporters extends beyond financial returns. These people love freedom, and Florida wants to be a “pro-freedom state.”

Gruters, who serves as treasurer of the Republican National Committee and has been involved in digital asset policy for several years, tied Bitcoin adoption to his broader fiscal agenda, including reforms to Florida’s insurance markets. 

“It’s about doing all we can to fix that, to make it transparent, to try to take away some of that volatility in pricing. And at the same time, make sure that we get these costs under control.”

He also pointed to Florida’s recent role during the COVID-19 pandemic as a destination for what he described as “economic refugees, ” demonstrating the state’s ability to attract residents seeking fiscal autonomy and regulatory clarity. 

“That’s why Bitcoin and other cryptocurrencies have so many opportunities, because they can come here in Florida. We’re going to embrace them.”

Gruters expressed confidence that Florida’s policy direction would influence other states, calling it “the place to be” and stating that “the country really follows us in terms of what we do.”

Referring to the federal government’s posture toward Bitcoin under Trump’s leadership, Gruters said he believes the digital currency will also play a central role in national reserves. 

“It will be a strategic reserve of the United States and an investment in the second-largest state in the country, like Florida. It’s come full circle.”

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