Swedish MP pushes for a national Bitcoin reserve

A member of Sweden's parliament has proposed including Bitcoin in Sweden's national currency reserves.

A member of the Swedish parliament has proposed to include Bitcoin in Sweden's national currency reserves. MP Rickard Nordin addressed Finance Minister Elisabeth Svantesson in an open letter urging the government to consider a strategic Bitcoin reserve. He cites the U.S. example, where such an initiative is budget-neutral funded.

"Sweden has a tradition of conservative and prudent management of its currency reserves, which mainly consist of foreign currencies and gold," Nordin writes. At the same time, he notes rapid developments in the digital asset space. "Many international players now see Bitcoin as a store of value and as protection against inflation."

In his letter, he asks the minister a clear question: "Has the minister, together with the government, considered authorizing the Riksbank to include Bitcoin in the Swedish currency reserve? And are there plans to legally facilitate this possibility?"

Nordin's initiative follows recent steps in the United States, where former President Donald Trump on March 6 directed the creation of a strategic Bitcoin reserve. Also at the state level in the U.S., bills are being introduced to establish their own crypto reserves.

Other countries are also showing interest. For example, the president of the Czech central bank openly expressed positivity about a possible state investment in Bitcoin. On the European side, there is also skepticism. ECB President Christine Lagarde recently stated: "I am convinced that no central bank in the eurozone will include Bitcoin as a reserve."

Whether Sweden will actually take the first step in Europe remains to be seen. But with Nordin's proposal, the topic is now squarely on the table.