Florida to Establish State Bitcoin Reserve: Investment Bill Advances

Florida lawmakers have moved forward with legislation paving the way for the establishment of a state Bitcoin reserve, potentially injecting $1.8 billion into the state’s economy. Rep. Webster Barnaby’s bill proposes allocating up to 10% of select public funds towards Bitcoin investments via direct custody or U.S.-regulated ETFs. This initiative positions Florida as a leader in innovation in economic policy and could have significant implications for Bitcoin’s legitimacy within the financial system.