South Dakota lawmaker reintroduces Bitcoin reserve bill
South Dakota Rep. Logan Manhart has reintroduced a bill that would allow the state to invest in Bitcoin, roughly a year after a similar measure was deferred. Manhart filed HB 1155 on Tuesday, proposing an amendment to state law that would permit the State Investment Council to allocate up to 10% of public funds to Bitcoin (BTC).
The proposal closely mirrors legislation Manhart sponsored in 2025, which did not advance to become law. Announcing the new bill on X on Tuesday, Manhart promoted the effort with the phrase “Strong money. Strong state.” You can see his full announcement on his official X page.
If enacted, South Dakota would join a small number of U.S. states that have moved to authorize investment in Bitcoin or the holding of crypto assets seized by authorities. As of January, Texas, Arizona and New Hampshire have passed such measures, while lawmakers in other states have introduced comparable proposals.
Manhart, a Republican representing South Dakota’s 1st District, assumed office in January 2025 following his election to the state House of Representatives.
White House official notes obstacles to federal Bitcoin reserve
At the federal level, implementation of a Strategic Bitcoin Reserve remains uncertain despite a March 2025 executive order by U.S. President Donald Trump establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile. Executive orders do not carry the same immediate effect as laws enacted by Congress, and Patrick Witt, director of the White House Crypto Council, said in a January interview that “obscure legal provisions” have delayed execution of the order.
The administration’s plan focused on forming a reserve from cryptocurrency seized in asset forfeiture cases, but the order did not explicitly authorize government purchases of Bitcoin. In August, U.S. Treasury Secretary Scott Bessent said there were budget-neutral options the federal government could use to acquire Bitcoin.
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