Swedish MP pushes for national Bitcoin reserve as U.S. and EU debate strategic adoption

A Swedish lawmaker is proposing the establishment of a national Bitcoin reserve, calling on Sweden to position itself as a forward-thinking nation amid growing global interest in strategic cryptocurrency adoption. 

Dennis Dioukarev, a Member of the Riksdag representing the Sweden Democrats, submitted a formal question to Finance Minister Elisabeth Svantesson, proposing a national strategy to accumulate Bitcoin (BTC) through confiscated assets.

Dioukarev cited the increasing global interest in the top digital asset and the existence of a U.S. Strategic Bitcoin Reserve.

Sweden plans to follow the United States’ lead and adopt Bitcoin as a national reserve

Dioukarev wrote that adopting BTC as a national reserve is a trend seen in many countries, referencing the U.S. government’s move to establish a strategic Bitcoin reserve using seized funds. “Is this something that the minister and the government are considering?” he wrote.

He suggested a similar path for Sweden to strengthen its currency reserves with BTC, alongside fiat and gold, without spending public funds.

The idea of a national BTC reserve in Sweden comes amid its rising popularity across Europe. In response, several prominent figures have advocated establishing a national Bitcoin reserve.

Dioukarev’s proposal follows a similar call from MP Rickard Nordin, who, on April 8, urged the same minister to rethink Sweden’s conservative approach to its reserves in light of BTC’s growing importance globally. 

Aleš Michl, the Czech National Bank Governor, proposed diversifying the Republic’s foreign reserves by investing up to $7 billion in BTC.

However, there are still doubts about BTC in the European Union. Christine Lagarde, the president of the European Central Bank, said that it was highly unlikely that any of the major banks in the bloc would have Bitcoin listed on their balance sheets.

Whereas Europe was divided over Bitcoin policy, Washington, on the other hand, continued to advocate for widespread cryptocurrency adoption. In March, President Trump issued an executive order to create a strategic Bitcoin reserve made up of Bitcoin that law enforcement agencies had seized over the years.

In addition, Bitcoin Treasuries said that the order required an audit of America’s current holdings, which amount to 207,000 BTC and are the largest of any sovereign nation.

Rickard Nordin justifies his belief that Bitcoin should be Sweden’s national reserve asset

Following U.S. President Donald Trump’s March 7 executive order, Swedish Member of Parliament Rickard Nordin proposed to the finance minister a budget-neutral Bitcoin reserve. 

This came after he wrote an open letter urging Finance Minister Elisabeth Svantesson to consider making BTC a national reserve asset, indicating greater openness to cryptocurrency adoption in Europe.

Nordin acknowledged that the country had long maintained a cautious and well-managed foreign exchange reserve, primarily gold and foreign currencies.

At the same time, he mentioned digital assets’ growing adoption and stated that several global players viewed BTC as a custodian and a hedge against inflation. 

Based on Nordin’s argument, Bitcoin was used as a payment method and a hedge against growing inflation in many parts of the world.

Additionally, he emphasized that it was an essential way for freedom fighters to handle payments under authoritarian regimes.

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