Florida Moves Forward With 2026 Bitcoin Strategic Reserve Bill Under SB 1038

The state of Florida is advancing SB 1038, a bill to establish a Bitcoin-focused strategic reserve targeted for 2026, after narrowing the scope of an earlier, stalled proposal. The measure would create a standalone reserve under the state's finance department, limited to cryptocurrencies with an average market capitalization of at least $500 billion over the past two years, a threshold currently met only by Bitcoin. Florida's legislative process is still in early stages and trails other states, some of which have already approved or funded similar reserves.