South Dakota seems to join a growing group of American states that are considering including Bitcoin (BTC) in their financial reserves. A new bill, submitted by state representative Logan Manhart, would officially recognize the digital currency within the state treasury.
Broad adoption of Bitcoin in the US
This initiative reflects the wider shift to crypto adoption in the United States. An important driving force behind this movement is former President Donald Trump, who called during his campaign in 2024 to set up a national Bitcoin reserve. In the meantime, he has signed an executive order to set up the Presidential Working Group on Digital Asset Markets, which is investigating how Bitcoin and other crypto currency can be integrated into American financial policy.
In addition, his administration has appointed a crypto and artificial intelligence (AI). It is also expected that Paul Atkins, a well -known proponent of Crypto, will be the new chairman of the Securities and Exchange Commission (SEC).
Worldwide trend: Bitcoin as strategically active
South Dakota is not the only state that Bitcoin regards as a strategic acquisition. At least twelve other American states, including Texas, Florida, Pennsylvania, Ohio and Arizona, have submitted similar proposals. Arizona is at the forefront of this and has already received a first approval to invest 10% of the state funds in Bitcoin. In January 2025, North Dakota, New Hampshire, Oklahoma, Massachusetts, Wyoming and Utah also joined this trend.
Not only states, but also countries, Bitcoin increasingly sees as a strategic active. Brazil, Japan, Poland and Russia are already investigating the possibilities to include Bitcoin in their financial strategy. In addition, Aleš Michl, governor of the Czech Central Bank, is considering investing up to 5% of the € 140 billion in reserves in Bitcoin. If this plan is implemented, the Czech Republic would be the first Western central bank to officially include Bitcoin as a reserve activum.
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Source: https://newsbit.nl/south-dakota-overweegt-bitcoin-toe-te-voegen-aan-staatsreserves/
