South Dakota Lawmaker To Introduce Bill For Strategic Bitcoin Reserve
Highlights
- South Dakota lawmaker announces the introduction of a strategic Bitcoin reserve.
- Arizona becomes the first US state to approve a Bitcoin reserve bill.
- More than 12 US states have already submitted a Bitcoin reserve proposal.
Countries worldwide are exploring the adoption of a strategic Bitcoin reserve, primarily influenced by US President Donald Trump’s pro-crypto stance. Over the last few months, several US states have proposed and passed the Bitcoin bill. In a recent development, South Dakota has also joined the rally, introducing a Bitcoin proposal.
The US states’ active participation in Trump’s Bitcoin proposal highlights the growing interest in recognizing Bitcoin as a reserve asset. This trend is expected to continue, as several countries are predicted to adopt Bitcoin as a strategic reserve in the near future.
South Dakota To Adopt a Strategic Bitcoin Reserve
In his recent X post, Logan Manhart, the South Dakota State Representative, expressed his interest in introducing a strategic Bitcoin reserve. Acknowledging it as a unique opportunity to become proactive, Manhart stated, “I am proud to say I will be bringing a bill in the South Dakota House that would create a strategic bitcoin reserve.”
Notably, South Dakota’s move reflects a growing trend among US states, with at least 12 states already proposing or passing a Bitcoin bill. These states include Florida, New Hampshire, Pennsylvania, Ohio, North Dakota, Oklahoma, Texas, Wyoming, Massachusetts, Utah, and Arizona.
Arizona Becomes the First US State To Approve a Bitcoin Reserve Bill
On January 27, the Arizona Senate approved the Arizona Strategic Bitcoin Reserve Act (SB1025). Becoming the first US state to approve the Bitcoin bill, Arizona can invest up to 10% of public funds in Bitcoin.
Interestingly, the Arizona State Senate Finance Committee passed the bill with a five to two vote. The bill allows the US Treasury to store government Bitcoin holdings. In addition, it will also provide a secure and segregated account for other public funds to safely store their digital assets.
13 US States Echo Trump’s Bitcoin Vision
Pennsylvania was one of the early US states to submit the strategic Bitcoin reserve proposal. In November 2024, the state proposed the Pennsylvania Bitcoin Strategic Reserve Act that allows Bitcoin investment in 10% of its general fund, investment fund, and rainy day fund.
Following the trend, Florida, Texas, and Ohio introduced similar bills in December 2024. North Dakota, New Hampshire, Oklahoma, Massachusetts, Wyoming, and Utah submitted their proposals in January 2025.
Is Bitcoin Reserve Becoming a Global Reality?
Inspired by Donald Trump’s crypto policies, many countries, including the Czech Republic, Germany, Hong Kong, Poland, Russia, and Japan, are embracing similar approaches. Following Trump’s presidential inauguration and his crypto-focused executive orders, the community is anticipating further progress in the global acceptance of Bitcoin.
While the community presses for the US strategic Bitcoin reserve adoption in 2025 Q1, it remains uncertain if it will meet the ambitious timeline.
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