A CONCURRENT RESOLUTION, Urging the State Investment Council to invest in Bitcoin.

WHEREAS, the State Investment Council has a responsibility to safeguard the state's financial resources against the impacts of inflation and other economic uncertainties; and

WHEREAS, Bitcoin has risen in value to the point that Bitcoin has a market cap over one trillion dollars; and

WHEREAS, Bitcoin is becoming more widely accepted as an international medium of exchange; and

WHEREAS, countries, including the United States, hold Bitcoin within their treasury departments; and

WHEREAS, Bitcoin is seen as an asset that can hedge against inflation by both sovereign nations and investment advisors; and

WHEREAS, this state should have access to tools to protect against inflation;

NOW, THEREFORE, BE IT RESOLVED, by the House of Representatives of the One Hundredth Legislature of the State of South Dakota, the Senate concurring therein, that the State Investment Council invest in Bitcoin and other digital assets.