South Dakota Wants Bitcoin Deposit as More States Join Trend

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The state-level Bitcoin reserve initiative is consistent with Trump’s advocacy for cryptocurrency, which has resulted in a resurgence of interest in crypto in U.S. financial policy.

It is anticipated that South Dakota will commence the deliberation of a measure that aims to incorporate Bitcoin into its financial reserves. This action would officially acknowledge the cryptocurrency as a component of the state’s assets.

Logan Manhart, South Dakota’s State Representative, expressed his enthusiasm for the prospect of introducing a measure in the South Dakota House that would establish a strategic Bitcoin reserve on Tuesday. “This is one of the few opportunities for the government to take a proactive stance.”

There was no indication of the bill’s introduction into the state’s House of Representatives. Decrypt has attempted to ascertain additional information regarding the bill’s timetable and specifics.

President Donald Trump’s pro-crypto stance is closely associated with the state-level drive for Bitcoin reserves, which has reignited interest in incorporating Bitcoin into U.S. financial policy.

South Dakota’s action coincides with the introduction or proposed introduction of comparable legislation in at least twelve other states, including Texas, Florida, Pennsylvania, Ohio, and Arizona.

In November 2024, Pennsylvania was among the first states to introduce a proposal, with Florida, Texas, and Ohio following suit in December.

North Dakota, New Hampshire, Oklahoma, Massachusetts, Wyoming, and Utah submitted Bitcoin reserve proposals in January 2025, and additional states have since joined the initiative.

Arizona has taken a further step by authorizing the initial portion of a Bitcoin reserve measure in its legislature. If the bill is passed, it will permit the allocation of up to 10% of public funds.

Trump pledged to establish a national Bitcoin stockpile during his campaign in November in order to establish the United States as the crypto capital of the world.

Last week, Trump fulfilled his commitment by signing his inaugural executive order on digital asset markets, which established the Presidential Working Group on Digital Asset Markets. This team is responsible for investigating policies, such as the establishment of a national crypto reserve.

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