In the last post on X (previously known as Twitter), the representative of the state of South Dakota Logan Manhart said he would submit a bill to South Dakota to create a strategic reserve for bitcoin.
After this post, the officially appointed actor joined a growing movement between the American states, as six states of a bill have proposed to create a strategic reserve for bitcoin. He urged legislators to engage in discussion.
I am proud to say that I will bring an invoice at the South Dakota house that creates a strategic reserve for bitcoin.
Now it is one of the few opportunities that the government has to be proactive.
Let’s do this conversation!
Manhartlogan January 28, 2025
If passed, it can increase the legitimacy of the role of bitcoin in government treasury bonds, which helps to obtain an encrypted currency in obtaining the prevailing accreditation. The SBR formation can also lead to a crowd in BTC, which enhances its price and the basic capital more amid the current upward momentum.
Will Bitcoin reserves be formed after Trump signs the executive?
US President Donald Trump has signed an executive order aimed at advancing the cryptocurrency and enhancing Blockchain innovation. The matter directs federal agencies to assess the methods of integrating digital assets into the economy and developing the stock of national digital assets to enhance the financial stability of the nation amid standard inflation and national debt.
The executive order gave hope to millions of encryption fans who want to see Bitcoin as a national reserve along with other origins such as gold.
Trump’s executive command contains a scale or structure that may be under study. The authority was directed during the reign of David Sachs, the newly appointed Trump encrypted and AI CZAR, to evaluate a reserves from the cryptocurrency that was seized through law enforcement efforts.
Nowadays, there are about 200,000 bitcoins under the seizure, at a value of about $ 21 billion at current prices, according to Bitcointreasuries.net. However, it is unclear what is the legal process required to remove it from the Ministry of Justice.
Also read: Bitcoin settles more than $ 100,000 amid institutional investments
