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Florida’s Bitcoin Dreams Crash and Burn in Committee

BBG News

Well, well, well, Florida’s big plans for a state-level Strategic Bitcoin Reserve have gone down in flames. Again. Who saw that coming? (Everyone, probably.)

And let’s not forget Arizona’s little fiasco either. You know, where the legislature passed some Bitcoin bills, and then Governor Katie Hobbs just decided, “Nah, not today!” What a shocker. So, yeah, things aren’t exactly *rocking* for the Bitcoin Reserve movement in the US right now.

Florida’s Bitcoin Reserve Bills: The Epic Fail

Remember when Trump got everyone excited about the US having a Strategic Bitcoin Reserve? Yeah, that was cute. Some states, like Florida, tried to jump on the bandwagon with their own plans. They even got the first committee vote, like, a month ago. People were like, “Hey, this could happen!” Spoiler: it didn’t.

Today, these Florida bills got pulled faster than a teenager’s excuses for not doing their homework. Talk about a *real* defeat. But hey, at least they tried, right? Maybe.

“Both Florida’s Bitcoin Reserve Bills have failed. The legislature adjourned its 2025 session on May 2, without passage of the bills. HB 487 and SB 550 have been ‘indefinitely postponed and withdrawn from consideration,’” said a crypto policy watchdog.

These bills had *bipartisan support*, which is a *big deal* in the crypto world. But don’t get too excited—Florida’s support was more fragile than my patience when I’m stuck in traffic. It didn’t last long. The bills were DOA, just like my New Year’s resolutions.

And don’t think Florida is the only state to go down in flames. Arizona had a nice little Bitcoin Reserve bill moment too, but Governor Hobbs swooped in and vetoed it. It was a real “Nope!” moment. But hey, there’s still hope for the other bill. Maybe. Who knows? It’s all about the money, right?

State Reserve Race Update:

Both Florida’s Bitcoin Reserve Bills have failed.

The legislature adjourned its 2025 session on May 2, without passage of the bills.

HB 487 and SB 550 have been “indefinitely postponed and withdrawn from consideration.”

— Bitcoin Laws (@Bitcoin_Laws) May 5, 2025

Now, let’s talk about why these bills failed. Fiscal conservatives. Yep, the good old “we don’t want to spend taxpayer money on something as risky as crypto” crowd. And honestly, who can blame them? This is Florida we’re talking about. Maybe they’re just waiting for Bitcoin to become less… volatile. Which could be a while.

There are still a few Bitcoin bills floating around, but their future? Oh, it’s as uncertain as the weather in Florida. The one bill in Utah passed, but here’s the twist—it was only after they took out all the Bitcoin Reserve talk. So, yeah, it’s technically Bitcoin-friendly, but also technically *not* Bitcoin Reserve-friendly. Go figure.

If this trend keeps up, we might just see Bitcoin Reserve bills go the way of Blockbuster video stores. Which, frankly, wouldn’t be the worst thing ever. 😏

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2025-05-06 20:13

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