The Act on the Strategic Bitcoin Reserve in Florida (SBR) may place cryptocurrency in the balance of state – as well as potentially transforming the position of the Republican Party. The Act, officially known as “SB 550: Investments of Public Funds in Bitcoin”, gained momentum in Tallahassee and drew national attention thanks to the renowned lawyer in Florida Senate.
Bitcoin in Florida can transform GOP forever
At the beginning of February, the Senator in Florida Joe Gruters presented the SB 550 to permission to the financial director of the state (CFO) to invest public funds – including the General Revenue Fund, budget stabilization fund and various trust funds – in BTC. The agent sets a 10% limitation of BTC resources to the fund and places regulatory supervision in the hands of CFO. Although the language of the bill focuses on financial diversification, its political implications have gained equal – if not greater – awareness.
The last noise was powered on February 24 post on X from Samuel Armes, founder of Florida Bitcoin & Blockchain Association (FBBA), the largest group supporting BTC, cryptocurrency and Web3. Armes emphasized how Florida’s approach could have waves not only on state finances, but for the future of the Republican Party throughout the country.
“Bitcoin Florida Bitcoin strategic account update: We are introducing a session next week, and this bill wants to go. But this bill is much more than it seems. Here a political strategy appears – and like my bill in Florida can affect the entire United States. “
According to Armes, the choice of sponsor Bill in the Senate was “carefully chosen for the maximum influence.” In his opinion, the double role of Gruters as a pro-btc and treasurer of the Republican National Committee (RNC) strengthens the impact of SB 550 outside Florida.
Post Armes continues the detailed division, why the involvement of Senator Gruters is significant: “Grutters is the Bitcoin ally from the first day, helping us to push the first Florida bill over four years ago. He is more than just a pro-bitcoin senator. Joe Gruters is currently one of Trump’s best allies and has just been appointed a treasurer of the Republican National Committee – Aka, the money manager of the entire GOP. “
The position of the RNC treasurer is crucial, taking into account the responsibility of the role for the party’s finances. Armes perceives sponsorship of SBR at the Gruts level as a earnest ideological change with national repercussions: “This means that the finance of the Republican Party is striving for Florida to Bitcoin in the balance sheet. We are one step away from the transformation of the Republican Party into the Bitcoin party, permanently. “
The embrace of BTC in Florida at the official level could, like the words of Armes, “transform the Republican party into a pro-bitcoin party-a view.” He suggests that if the SB 550 succeeds, it will serve as a legislative model for other countries run by Republicans.
Another layer of this political narrative is trying to become another financial director of Florida. If he wins, Armes predicts that the condition of Sunshine has a whole leadership table-government and financial director-BTC supporting: “If Gruters wins, Florida will have: pro-bitcoin director, pro-btc (probably Byron Donalds, member of a member, member, member , member of the Blockchain Caucus Congress) [and] The most aggressive BTC policy in the country. “
Post ends with a bold declaration: “Florida does not lead only to Bitcoin – he ensures that GOP is becoming a Bitcoin event. Are you already paying attention? “
During the BTC press it traded at USD 91,862.
A distinguished picture from X, chart from tradingview.com
