South Dakota has a new bill on the table that would let the state put up to 
10% of certain public funds into Bitcoin. Reports say Rep. Logan Manhart filed 
House Bill 1155 this week, restarting an effort that stalled last year. 
Related Reading: PayPal Survey: 4 In 10 US Merchants Now Accept Crypto The 
measure would change state investment rules to give the State Investment 
Council explicit authority to hold Bitcoin in its portfolio. Lawmaker Files 
Bill For Bitcoin Reserve According to filings and public posts, Manhart’s 
proposal mirrors a move he tried in 2025 and keeps a clear cap on exposure: 
10% of the moneys made available for investment. The bill text says the limit 
“may not exceed 10%” and lays out options for how the exposure could be taken, 
including direct holdings or regulated products. A South Dakota lawmaker is 
reviving a push to bring bitcoin into state finances. Republican Rep. Logan 
Manhart introduced House Bill 1155, which would allow the state to invest up 
to 10% of eligible public funds in bitcoin. It’s a renewed effort after a 
similar bill stalled… pic.twitter.com/hPBbiSB6zT — Timmy Shen (@timmyhmshen) 
January 28, 2026 The new push comes after last year’s proposal was deferred in 
committee. Reports note that HB 1202 was put aside during the 2025 session and 
did not advance, and Manhart signaled he would try again in 2026. That history 
matters because it shows the idea has support in some corners but also faces 
practical and political hurdles. What The Bill Allows Based on reports, the 
bill not only sets a 10% ceiling but also tries to handle custody and security 
concerns. It mentions requirements such as using qualified custodians or 
exchange-traded products, encrypted storage, and multi-signature controls. 
Those rules are aimed at lowering the risks that come with holding a volatile 
asset with public money. Supporters say Bitcoin could act as a hedge and add a 
new type of asset to the state’s mix. Opponents point to volatility and 
possible legal or accounting issues when state funds are used in this way. 
Related Reading: Record Pain: Bitcoin Investors Suffer $4.5B Loss, Most In 3 
Years The debate will likely hinge on how the State Investment Council 
evaluates risk and which funds would be considered “eligible” under the bill’s 
language. Political And Financial Pushback There is practical pushback from 
fiscal watchdogs and some lawmakers who worry about public perception. Money 
managed for things like pensions carries duty of care. That duty was stressed 
last session and will be raised again now that the bill is back. The point has 
been made plainly and will shape committee hearings. Featured image from 
Unsplash, chart from TradingView

Bitcoin Breaks Into State Policy As South Dakota Weighs 10% Allocation

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