Key Points:
- State Representative Logan Manhart plans to propose a bill to create a Strategic Bitcoin Reserve, following similar initiatives in Arizona, Wyoming, and Massachusetts.
- President Donald Trump’s executive order directs federal agencies to explore integrating cryptocurrencies into the economy.
- The U.S. is witnessing growing state and federal efforts to adopt Bitcoin and digital assets for financial stability amid inflation and rising debt.
South Dakota State Representative Logan Manhart announced plans to introduce a bill to establish a Strategic Bitcoin Reserve in the state.
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South Dakota Legislator Proposes Strategic Bitcoin Reserve Bill
The proposal, revealed in a recent post on X, follows Arizona’s recent approval of a similar measure. Wyoming and Massachusetts have also joined the movement, becoming part of the eight states introducing Bitcoin-related legislation since December 2024.
The state-driven push coincides with federal efforts to integrate digital assets into the economy. On January 23, U.S. President Donald Trump signed an executive order aimed at advancing cryptocurrency adoption and fostering blockchain innovation.
States and Federal Government Embrace Digital Asset Initiatives
The directive tasks federal agencies with exploring digital asset integration and creating a national Strategic Bitcoin Reserve to enhance financial stability amid rising inflation and national debt.
Under the order, David Sacks, the newly appointed crypto and AI czar, is tasked with evaluating the feasibility of developing a federal digital asset stockpile.
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