South Dakota Lawmaker Reintroduces Bitcoin Reserve Bill

A bill that would let the state invest some of its public funds in bitcoin has been submitted by a South Dakota lawmaker, resuming attempts that were unsuccessful in the state assembly last year.

On Tuesday, Republican Representative Logan Manhart introduced House Bill 1155, which would amend South Dakota's public investment laws to allow the State Investment Council to invest up to 10% of state assets that qualify in bitcoin.

This would enable exposure through regulated exchange-traded instruments, certified custodians, or direct holdings. Manhart posted on X, saying, “I am proud to say I have released my bill that would allow the State of South Dakota to invest in Bitcoin. Strong money” robust condition.

South Dakota Lawmaker Reintroduces Bitcoin Reserve Bill

Additionally, the bill outlines security and custody criteria for state bitcoin holdings, including multi-party governance controls, geographically dispersed safe facilities, encrypted hardware storage, exclusive private-key control, and frequent security audits.

The official journal log for the legislative session states that House Bill 1155 was read for the first time and referred to the Committee on Commerce and Energy.

House Bill 1202, which Manhart submitted during the 2025 legislative session, is very similar to the most recent proposal. After being postponed until the 41st day of the legislature, beyond South Dakota's 40-day session limit, that bill, which aimed to include bitcoin in the list of acceptable state investments, was essentially destroyed.

As more US states consider strategic bitcoin reserves, South Dakota is making a fresh effort. Lawmakers in Florida and Kansas have made similar proposals. Thus far, laws pertaining to cryptocurrency reserves have been passed in Arizona, Texas, and New Hampshire.

In the meantime, President Donald Trump issued an executive order in March that led to the establishment of a strategic bitcoin reserve by the US federal government last year. Bitcoins confiscated in criminal and civil actions, which are technically forbidden from being traded, are used to finance this national stockpile.