Florida becomes latest state to pursue bitcoin reserve ahead of 2026 session

Florida lawmakers have introduced Senate Bill 1038, which proposes establishing a Florida Strategic Cryptocurrency Reserve managed by the state's chief financial officer (CFO). This measure creates a standalone reserve structure with specific custody rules and reporting, rather than allowing bitcoin investments across existing public funds. The proposal restricts eligible cryptocurrencies to those with an average market capitalization of at least $500 billion over the prior 24 months, currently limiting it only to Bitcoin. This effort follows similar, previously stalled legislative attempts in Florida. The move comes as other states, like Texas, have already approved or enacted frameworks for state bitcoin reserves or crypto interaction, such as Texas's initial $5 million purchase via an ETF, and New Hampshire and Arizona enacting narrower governance frameworks.

(Source：The Block)