Reintroducing the Bitcoin Reserve Bill! South Dakota State Senator: Advocates allocating 10% of public funds to invest in Bitcoin

South Dakota Reintroduces Bill to Allow Up to 10% of Public Funds to Be Allocated to Bitcoin as Part of Official Asset Portfolio

Once again, South Dakota is attempting to pass legislation to include Bitcoin in public sector asset allocations. A state legislator recently proposed a new bill advocating for the state government to invest a portion of public funds in Bitcoin, aiming to revive a legislative effort that fell short last year.

Republican State Representative Logan Manhart formally introduced House Bill 1155 on Tuesday, which seeks to amend South Dakota’s public investment regulations, authorizing the State Investment Council to allocate up to 10% of qualified state funds into Bitcoin. Investment options include direct holdings of spot Bitcoin, through compliant custodians, or purchasing regulated ETP products such as Bitcoin spot ETFs.

Logan Manhart later posted on social platform X: “I am proud to announce that I have officially introduced a bill allowing South Dakota to invest in Bitcoin. Only a strong currency can build a strong state.”

Additionally, the bill explicitly outlines custody and security standards that the state government must follow when holding Bitcoin, aiming to address public concerns about the safety of holding crypto assets. Relevant regulations include: private keys must be fully controlled by the state government, stored in cold wallets, with geographically dispersed high-security facilities, multi-party governance controls, and regular security audits.

This is not Logan Manhart’s first attempt. During the 2025 legislative session, he proposed a similar bill, House Bill 1202. Although it generated significant discussion, the bill was delayed until the 41st day after the session ended and ultimately died due to exceeding the statutory 40-day legislative deadline.

South Dakota’s move echoes the nationwide wave of “Bitcoin reserve” initiatives, with Kansas and Florida actively pushing similar proposals; Arizona, Texas, and New Hampshire have already passed legislation related to cryptocurrency reserves.

Meanwhile, the U.S. federal government officially established a Bitcoin strategic reserve last year, funded mainly by seized Bitcoin, which is legally prohibited from being sold and is regarded as a national strategic asset.

• This article is reprinted with permission from: 《BlockBeats》
• Original title: 《South Dakota Legislator Reintroduces “Bitcoin Reserve Bill,” Urging 10% Public Funds Investment in Bitcoin》
• Original author: Block Sister MEL