South Dakota Proposes Bill To Add Bitcoin To State Reserves

South Dakota has joined an increasing number of U.S. states investigating cryptocurrency as a reserve asset by introducing a law that would permit the state to invest public assets in Bitcoin. Representative Logan Manhart made the idea.

In addition to more conventional assets like bonds and ETFs, the bill would allow the South Dakota State Investment Council to invest up to 10% of available funds in Bitcoin. Strict guidelines for risk management, security, and custody are outlined in the plan.

The council would have complete control over private keys if Bitcoin is handled directly, and encrypted hardware would be kept in several safe places. Additionally, the bill requires frequent audits, disaster recovery plans, and multi-party approvals.

The move aligns with broader federal interest in a U.S. Strategic Bitcoin Reserve, which remains a priority for the current administration. If passed, South Dakota would join states like Texas that have already disclosed Bitcoin investments, signaling growing acceptance of BTC in public finance.

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