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In a Fox Business interview, Donalds described his vision of making Florida a holder of Bitcoin and other digital assets. Given fears over federal monetary policy, he said this would protect the state's long-term financial health.

"What I'm proposing in Florida is a Bitcoin reserve, not just a crypto reserve. Cryptos [are] a lot of different currencies in a basket. Bitcoin has proven to be a holder of value over the long term", said Donalds on March 10.

Referring to Bitcoin's historical bullish growth, he pointed out that in 2015, Bitcoin was $500 a coin, and today's price reaches more than $82,000.

Donalds believes Bitcoin is akin to gold and retains value as a limited digital asset. He railed against the Federal Reserve's monetary policies, arguing that too much money printing weakens the dollar's value in the long run.

"The way that the Federal Reserve prints dollars because of Congress's reckless inability to control spending over the long term," he said, "having a Bitcoin reserve as a part of your portfolio helps to provide value for the state long term."

When asked whether the government should support a particular asset class and what would happen if Bitcoin became worthless, Donalds countered, "There are no guarantees. But there's a reason why we also have strategic petroleum like we do hold in a state's portfolio." He likened the hypothetical Bitcoin reserve to state pension funds, which invest in securities with a long-term appreciation expectation.

When asked if taxpayer dollars should be spent to obtain Bitcoin, Donalds was noncommittal and suggested that the reserve could be funded with existing surpluses in the state. "These aren't new tax dollars going out," he explained. According to him, how Florida buys Bitcoin for reserve is yet to be decided.

How will a Bitcoin reserve help Florida?

He argued that securities provide a consistent means of portfolio growth as they traditionally beat inflation and tax policy. Donalds recommended that the state include Bitcoin into its financial reserves, just as people invest their 401(k) money in equities.

Referring to Bitcoin's ten-year rising trend, he underlined that the the asset has not only kept its value but also considerably raised in value. He alluded to continuous worries about devaluation of fiat money, especially the U.S. dollar, claiming that long-term trajectory of Bitcoin indicates possible stability and expansion.

Donalds' proposal comes as several states consider Bitcoin a reserve asset. In November 2024, Pennsylvania became the first state to introduce the Pennsylvania Bitcoin Strategic Reserve Act , which would divert as much as 10% of its general and rainy-day funds into Bitcoin.

Other states like Arizona, Utah, and Texas are also making laws that would help the public invest in cryptocurrencies, a complementary movement showing that state governments are also considering Bitcoin as a strategic asset.