Bitcoin in Swedish reserves? Proposal in Parliament

A Swedish parliamentarian proposes to integrate Bitcoin into the country's currency reserves, inspired by the US model.

Rickard Nordin, a member of the Swedish Parliament, has officially called on his government to consider integrating Bitcoin (BTC) into the country's foreign exchange reserves.

Through a written question addressed to Finance Minister Elisabeth Svantesson, Nordin emphasised the growing global debate and development of digital assets within national financial systems.

Nordin argued that Sweden should consider Bitcoin as a strategic reserve asset, following the example of several state and federal officials in the United States, who have proposed treating Bitcoin similarly to gold in times of economic and geopolitical turmoil.

The parliamentarian emphasised how Bitcoin functions in economic terms in a similar way to gold, also highlighting its growing role as a global payment solution and protection against hyperinflation. Bitcoin represents an essential financial infrastructure for people living under authoritarian governments, as it allows them to transfer and store value outside of state control.

Nordin's approach avoids recommending direct state purchases of Bitcoin. Instead, he proposed a budget-neutral strategy.

"Swedish authorities should store Bitcoins seized by agencies such as customs or police, rather than selling them," Nordin said.

He brought up the United States as an example, where federal authorities have amassed significant amounts of Bitcoin from confiscated assets, without using public money to purchase them.

The Sveriges Riksbank, Sweden's central bank, maintains its reserve portfolio on traditional assets such as foreign currencies and gold. However, the government needs to review its financial strategy in light of changes in the global economy and the growth of decentralised digital currencies.

The official question, registered under number 2024/25:997, requires Minister Svantesson to provide a formal response by 16 April. At the moment, the government has not yet made its position known on extending the Riksbank's mandate to include Bitcoin among its reserves. Finance Ministry officials chose not to comment on the question.

The Swedish initiative is part of wider international discussions on how decentralised digital assets can be incorporated into national monetary systems. The small Central American state of El Salvador has recognised Bitcoin as legal tender and included it in its national reserves, while most of the developed world continues to consider it a risk.

With Nordin's proposal, Sweden could explore a balanced approach, using confiscated digital assets as a strategic reserve, without making direct investments. International financial experts will closely follow the minister's upcoming statement to see if Sweden will change its policy on Bitcoin and national reserves.