A South Dakota state lawmaker has reintroduced legislation that would allow the creation of a Bitcoin Reserve at the state level. Representative Logan Manhart has introduced HB 1155, a measure that would amend state law to permit the South Dakota State Investment Council to invest up to 10% of eligible public funds in Bitcoin.
The bill closely follows legislation Manhart presented in 2025, which stalled and was not enacted. The new proposal does not compel immediate Bitcoin purchases but expands the list of permissible assets, leaving allocation decisions to professional fund managers under existing risk and governance standards. Manhart, a Republican representing South Dakota’s First District, has framed the bill as an update to state investment policy, aligning it with changes in broader financial markets and positioning Bitcoin as a tool for diversification and long-term value preservation.
If approved, South Dakota would join a limited group of U.S. states, including Texas, Arizona, and New Hampshire, that have enacted laws allowing Bitcoin exposure or the retention of seized digital assets. This state-level push unfolds as federal efforts remain constrained. In March 2025, President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve, but unresolved legal provisions have delayed its implementation, according to Patrick Witt, director of the White House Crypto Council. Treasury Secretary Scott Bessent has noted budget-neutral approaches could allow federal acquisition of Bitcoin, but no statutory pathway has been finalized.
