South Dakota lawmaker takes another run at Bitcoin reserve bill

South Dakota Rep. Logan Manhart just dropped HB 1155 — his second attempt to let the state’s Investment Council allocate up to 10% of public funds into Bitcoin. This comes a year after his first bill got shelved. Manhart’s X post said it all: “Strong money. Strong state.”

If this passes, South Dakota joins the crypto-state crew: Texas, Arizona, and New Hampshire already have laws allowing Bitcoin reserves or holding seized crypto. Manhart, a Republican elected in 2025, isn’t backing down — he introduced similar legislation right after taking office, but it got deferred.

Meanwhile, the feds are still figuring it out. Trump signed an executive order in March 2025 for a Strategic Bitcoin Reserve, but White House Crypto Council director Patrick Witt says “obscure legal provisions” are stalling it. The plan was to use seized crypto from asset forfeitures — not buy Bitcoin outright. Treasury Secretary Scott Bessent hinted there might be budget-neutral ways for the U.S. to acquire BTC, but details are still fuzzy.

Bottom line: States are moving faster than D.C. on crypto reserves. South Dakota’s bill could be the next domino to fall — if Manhart can get it through this time.