South Dakota Bill Would Let State Invest 10% of Funds in Bitcoin
A new bill filed in South Dakota by Republican lawmaker Logan Manhart would permit state-managed funds to allocate as much as 10% of their portfolios to Bitcoin. The measure, still in its early legislative stages, would open a formal channel for public treasuries or funds under state control to hold BTC as part of their asset mix, subject to any implementing rules the legislature or agencies adopt.
The proposal matters because it signals continued interest at the state level in using cryptocurrency as a portfolio diversification or inflation-hedging tool, while also reviving questions about volatility, custody, and regulatory oversight for public assets. If the bill progresses, it could add momentum to a broader debate about crypto in public finance and prompt scrutiny of safeguards for taxpayers and beneficiaries before any funds are moved into digital-asset exposures.