Florida has recently turned down two significant Bitcoin reserve proposals (House Bill 487 and Senate Bill 550), becoming one of several states to dismiss similar legislation in 2025. These bills aimed to permit the allocation of up to 10% of the state’s public funds for investment in Bitcoin (BTC) but were ultimately halted before the close of the legislative session on May 2.
Introduced in February, HB 487 sought to empower the state’s chief financial officer to invest public funds in Bitcoin, while SB 550 advocated for similar powers. However, as the legislative session concluded, both proposals were marked as “indefinitely postponed and withdrawn from consideration.”
### The Expanding Trend of State Rejections
In addition to Florida, Arizona faced a setback when Democratic Governor Katie Hobbs vetoed a bill intended to establish a State Bitcoin Reserve. A total of at least seven states—Oklahoma, South Dakota, Montana, North Dakota, Pennsylvania, and Wyoming—have also seen similar initiatives fail this year.
The resistance to Bitcoin investments transcends party lines, with both Democratic and Republican lawmakers opposing the use of state funds for cryptocurrency. This stands in contrast to former President Trump’s pro-Bitcoin stance at the federal level, highlighting a divide within the political landscape regarding cryptocurrency policies.
New Hampshire, however, has taken a different approach. It has become the only state to enact legislation allowing for a Bitcoin reserve. Governor Kelly Ayotte recently signed HB 302 into law, marking a significant milestone for the state and positioning it as a pioneer in the realm of digital assets and commerce.
New Hampshire’s proactive stance was celebrated by local Republicans, with the state now billed as the first to establish a framework for a cryptocurrency reserve. This development underscores New Hampshire’s commitment to embracing digital innovation, while other states remain hesitant.
### Conclusion
The recent failures of Bitcoin reserve bills across various states reflect a growing caution regarding the use of public funds for cryptocurrency investments. As New Hampshire forges ahead with its strategic reserve, the broader trend indicates a complex and often divided political landscape concerning the regulation and adoption of Bitcoin as a legitimate financial asset. With only a single state advancing such legislation, the path forward for Bitcoin reserves remains uncertain as lawmakers continue to grapple with balancing innovation and financial prudence.
