This week, two Swedish lawmakers urged the countryโs finance minister to consider adding Bitcoin to Swedenโs reserves.
Sweden Democrat Member of the Riksdag Dennis Dioukarev and MP Rickard Nordin have issued open letters to Finance Minister Elisabeth Svantesson, pushing for a national strategy that embraces Bitcoin as part of the countryโs future financial planning.
Dioukarevโs letter, submitted on April 14, proposed that Sweden begin accumulating Bitcoin using confiscated crypto assets. He pointed to similar efforts in other countries, notably the United States, which recently launched a national Bitcoin reserve funded through seized funds.ย
โThis is a trend seen in many countries,โ Dioukarev wrote, asking whether the finance ministry had any plans to explore the idea.
Nordinโs April 8 letter made a similar case, asking the government to rethink its traditional reserve policy that focuses on traditional assets like Gold and take Bitcoinโs global rise more seriously.
โHas the minister and the government considered the possibility of allowing the Riksbank to include Bitcoin in Swedenโs currency reserve, and will the minister and the government take steps to enable the Riksbank to do so?โ he wrote.
Nordin framed Bitcoin not just as a hedge against inflation but also as a financial tool for activists and dissidents living under authoritarian regimes. Citing its role as a censorship-resistant payment system, he suggested that Bitcoin aligns with democratic values and freedom of expression.
To establish such a reserve, Nordin proposed a budget-neutral approach that involves holding onto any Bitcoin seized by authorities like the Swedish Customs Agency or the police, rather than selling it off.
โThis is how the U.S. has built up a considerable amount without needing to allocate budgetary funds or directly purchase the cryptocurrency,โ he added.
Before the U.S. stepped in, the concept of a national Bitcoin reserve lived mostly in crypto circles and think tanks. That changed in March, when returning President Donald Trump signed an executive order turning Bitcoin into a formal part of Americaโs sovereign toolkit.
The idea has resonated beyond Washington ever since Trump promised to establish a national Bitcoin reserve. In January this year, Czech central bank governor Aleลก Michl presented the idea of Bitcoin as a diversification tool.ย
Prior to that, French Parliament Member Sarah Knafo had urged European nations to start building national Bitcoin reserves instead of a central bank digital currency.
However, not everyoneโs on board with the idea. Australia, for one, has made it clear it wonโt be following the U.S. down the Bitcoin reserve path. A spokesperson for the Assistant Treasurer said last month that the Albanese government is focused on regulation, not accumulation.
