Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

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

Source Cryptopolitan

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.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Sep 20, Sun

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

19 hours ago

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

19 hours ago

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Gold Price Forecast: XAU/USD drifts toward $4.300 with bears gaining traction Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Author FXStreet

15 hours ago

Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Popular Symbols