Byron Donalds, an American congress and candidate for Florida’s governorship, has proposed that the State draws up a Bitcoin reserve, with the argument that it could serve digitally as a protection against inflation and federal monetary policy.
In an interview with FOX Business on 10 March, Donalds suggested that Florida Bitcoin should keep as part of his financial strategy, which distinguishes it from broader crypto investments.
Donalds said:
“What I propose in Florida is a Bitcoin reserve, not just a crypto reserve. Bitcoin has proven to be of value in the long term. “
He pointed to Bitcoin’s historical price rating and noted that today he rose from $ 500 in 2015 to more than $ 80,000. He compared Bitcoin with gold and emphasized the scarcity and the potential role as a value storage.
He also criticized the monetary policy of the Federal Reserve and claimed that excessive money prints weakened the US dollar.
He said:
“Because the congress does not curb the expenditure, having a Bitcoin reserve can offer value in the long term as part of the Florida portfolio.”
Financing and implementation
When asked whether taxpayers should be used to acquire Bitcoin, Donalds suggested that the reserve could be financed by existing state surpluses instead of new tax revenues.
He clarified that “these are not new tax dollars that go out”, but did not indicate how the state would make such purchases.
Donalds compared the concept with pension funds that invest in securities, with the argument that Bitcoin, like traditional assets, has the potential for long -term valuation. He also compared the idea with strategic oil reserves, which suggests that holding Bitcoin could serve as a financial cover for the state.
His suggestions come amid the recent executive command of President Donald Trump to establish both a strategic Bitcoin reserve and a strategic digital assets stock.
Growing trend
Donalds’ proposal follows similar steps of other states that consider Bitcoin as a spare active. At the end of 2024, Pennsylvania introduced legislation to allocate a maximum of 10% of his general and rainy funds to Bitcoin.
More than 20 other states have also proposed similar legislation, whereby Texas is the furthest running to take it in full. In the meantime, some states, including Utah, have decided to abandon the reserve for the time being.
Although Florida does not yet have to take concrete steps to set up a Bitcoin reserve, Donalds’ proposal indicates a growing interest among policymakers in digital assets as part of the long-term financial planning. Whether the initiative will get a grip can depend on the outcome of the upcoming Gubernatorial Race of the State.
