A bill introduced by Republican Logan Manhart would allow up to 10% of South Dakota's state-managed funds to be invested in Bitcoin. The proposal joins a growing number of U.S. states debating crypto allocations amid questions about risk and diversification.
BitGo has relocated its headquarters from Palo Alto to South Dakota as it prepares for an IPO aimed at a $2 billion valuation. The shift reflects a strategic move into a more business- and tax-friendly jurisdiction while the custody firm positions for public markets.