Florida has pulled two bills that would have allowed the use of up to 10% of certain public funds for Bitcoin investment. It was withdrawn on May 3 when the legislative session adjourned.
Neither of the two bills made it to a floor vote, and both were "indefinitely postponed and withdrawn from consideration," public records show.
Florida’s reversal follows failed efforts in Arizona, Oklahoma, South Dakota, Montana, North Dakota, Pennsylvania, and Wyoming.
Oklahoma's bill passed one committee but was defeated 6–5 in another by a narrow margin. Senator Christi Gillespie changed her vote in favor of the crypto bill after hearing from constituents, although the attempt failed.
Arizona’s bill made it to the governor’s desk but was vetoed by Governor Katie Hobbs. The Governor argued that retirement funds are “not the place to test unproven assets.” South Dakota and Montana experienced wider opposition, while Wyoming's bill had only one vote in favor.
Whereas Utah took digital asset investment off its final blockchain bill, Arizona still has two pending crypto proposals, one of which finances a reserve with profits from unclaimed property. Nevertheless, Texas and New Hampshire now stand alone with serious momentum driving active Bitcoin reserve bills.
Once a growing trend, Bitcoin reserve bills are now lagging throughout the US. More than 45 bills had been proposed earlier in the year throughout 25 states. That number has since fallen to 36 pending bills in just 19 states, according to reports.
It’s surprising to see the state-wide opposition given the US President Trump’s vocal support for pro-crypto policies. BTC forecasts also look optimistic, with some analysts even estimating its price rise to $138,000 within the next three months. The Bitcoin price as of 6.51 PM on May 7, 2025, stands at $ 96,790. However, the recent corruption allegations against Trump and his family have made legislators wary, thus resulting in the withdrawals.