Florida Proposes $500 Billion Bitcoin Reserve Under Senate Bill 1038
- New Legislation Proposed: Florida's Senate Bill 1038, sponsored by Republican Senator Joe Gruters on December 30, 2025, aims to establish a state-controlled Strategic Cryptocurrency Reserve, restricting eligible assets to cryptocurrencies with an average market capitalization above $500 billion, with Bitcoin currently being the only qualifying asset.
- Management Structure: The reserve will be managed by the Chief Financial Officer, who will have the authority to purchase, hold, and liquidate approved digital assets, aiming to mitigate investment risks through stringent asset selection criteria.
- Legislative Coordination: The bill requires companion legislation from the House Bill 1039 to take effect, demonstrating coordinated legislative support, with CFO reporting requirements set to begin in December 2026 if enacted.
- Market Impact: Florida's framework seeks to provide oversight while limiting asset selection in response to opposition against earlier proposals, potentially influencing Bitcoin reserve legislation in other states.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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