Swedish lawmaker urges government to establish Bitcoin reserve amid global economic shifts

Swedish Member of Parliament Rickard Nordin has formally questioned the government about whether it will allow the central bank to add Bitcoin (BTC) to the country’s foreign currency reserves.

In an official written inquiry submitted to Finance Minister Elisabeth Svantesson, Nordin referenced international momentum and a growing global debate on the role of digital assets in national financial strategy.

He pointed to the US, where several states and federal officials have floated the idea of holding Bitcoin as a strategic reserve asset akin to gold, especially in the face of escalating geopolitical and economic uncertainty.

Budget-neutral strategy

Nordin said that Bitcoin’s monetary properties are comparable to gold and it is already being used in many parts of the world as a payment method and as a hedge against hyperinflation.

He added that Bitcoin also plays a critical role for individuals under authoritarian regimes, offering them a means to move and store value beyond the reach of state control.

Rather than proposing direct purchases of Bitcoin, Nordin suggested a budget-neutral approach: retaining Bitcoin confiscated by Swedish authorities, such as the Customs Service or police, rather than liquidating it.

He used the US as an example, where federal agencies have built up sizable holdings through asset seizures without allocating taxpayer funds to acquire the digital currency.

Sveriges Riksbank currently maintains a conservative reserve portfolio, primarily composed of foreign currencies and gold. Nordin urged the government to reconsider that strategy in light of evolving global financial instruments.

Government Response

The written question, officially registered under 2024/25:997, requires a formal response from Finance Minister Svantesson by April 16.

The government has not yet indicated whether it will take steps to expand the Riksbank’s mandate to include Bitcoin in its holdings. The Finance Ministry has not commented on the inquiry at the time of publication.

Sweden’s move comes amid broader international debates around the inclusion of decentralized digital assets in sovereign monetary planning.

While El Salvador has already adopted Bitcoin as legal tender and incorporated it into national reserves, more advanced economies have so far treated it primarily as a speculative asset.

Nordin’s proposal could prompt Sweden to explore a middle ground, leveraging confiscated digital assets as a strategic hedge without making direct financial bets.

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