A Swedish MP is proposing the adoption of Bitcoin in the country’s national foreign exchange reserves.
On April 8, Member of Parliament Rickard Nordin submitted a formal proposal to Finance Minister Elisabeth Svantesson, urging her to consider including the leading cryptocurrency as part of Sweden’s national reserves. In his letter, Nordin emphasized that Sweden has “a tradition of conservative and prudent management of foreign reserves, primarily composed of foreign currencies and gold.”
Nordin highlighted the rapid growth of the digital asset sector, noting that “many international actors view Bitcoin as a store of value and a hedge against inflation. In many parts of the world, Bitcoin is used as a means of payment and a safeguard against rising inflation.”
In his appeal, the MP also stressed Bitcoin’s importance as “an essential tool for freedom fighters to handle payments when under the oppression of authoritarian regimes.”
The Swedish proposal echoes the executive order signed last March by President Trump to establish a national Bitcoin reserve funded by assets seized during criminal proceedings. The order authorized the Secretaries of the Treasury and Commerce to develop “budget-neutral strategies” to acquire more bitcoins for the reserve, provided there were no additional costs to taxpayers. A similar approach was suggested by the Swedish lawmaker.
Institutional interest in Bitcoin isn’t limited to Sweden. Last January, the Governor of the Czech National Bank also proposed evaluating Bitcoin as part of a potential diversification strategy for the country’s foreign reserves.
