South Dakota and Montana legislatures have dismissed bills proposing the investment of state funds in Bitcoin.

While South Dakota lawmakers rejected the bill citing volatility concerns, Rep Logan Manhart plans to push for its revival next year.

The South Dakota legislature delayed a vote on a bill on Monday that could have allowed the state to adopt Bitcoin (CRYPTO: BTC) as a strategic reserve asset.

The South Dakota legislature delayed a vote on a bill on Monday that could have allowed the state to adopt Bitcoin (CRYPTO: BTC) as a strategic reserve asset. What happened: The majority of lawmakers at a meeting of the state’s House Commerce and Energy Committee voted to defer the bill to the 41st day of South Dakota’s legislative session.

While South Dakota lawmakers rejected the bill citing volatility concerns, Rep Logan Manhart plans to push for its revival next year.

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The South Dakota bill would have allowed the state treasurer to allocate up to 10% of the state’s investment portfolio for BTC. Ultimately, concerns about volatility may have shut the bill down.

South Dakota lawmakers rejected a bill that would have allowed the state to invest up to 10% of its public funds in Bitcoin, following a similar rejection in Montana, though the bill's sponsor plans to reintroduce it next year while other states continue to explore cryptocurrency investment options.

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