Swedish Lawmaker Champions Bitcoin Reserve For Strategic Edge

As the global interest in Bitcoin (BTC) continues to rise, a Swedish lawmaker is advocating for the establishment of a national Bitcoin reserve, mirroring initiatives taken by the United States under President Donald Trump. 

Sweden Eyes Strategic Bitcoin Reserve

Dennis Dioukarev, a Member of the Riksdag representing the Sweden Democrats, has formally approached Finance Minister Elisabeth Svantesson with a suggestion to create a national strategy for accumulating Bitcoin. 

The lawmaker proposes that Sweden could acquire BTC through confiscated assets, thereby fortifying its currency reserves alongside traditional assets like fiat currency and gold, without the need to expend public funds.

Dioukarev pointed to the growing global interest in BTC as a strategic asset and referenced the US government’s establishment of a strategic Bitcoin reserve, which utilizes funds seized by law enforcement. In his inquiry, he asked, “Is this something that the minister and the government are considering?”

Others Remain Skeptical

Dioukarev’s proposal is part of a broader trend in Sweden, where several prominent figures have started advocating for a national Bitcoin reserve.

His call follows a similar initiative from fellow MP Rickard Nordin, who on April 8 urged the finance minister to reconsider Sweden’s conservative approach to its reserves in light of BTC’s growing significance on the global stage.

Nordin has argued that Bitcoin is increasingly viewed as a store of value and a hedge against inflation, making it an attractive option for national reserves. He pointed out that many countries are recognizing Bitcoin’s potential, and Sweden should not fall behind in this evolving financial landscape.

While Sweden appears to be moving toward a more open stance on cryptocurrency, Europe remains divided on BTC policy. Christine Lagarde, president of the European Central Bank, has expressed skepticism about the likelihood of major banks in the EU listing Bitcoin on their balance sheets. 

This hesitance contrasts sharply with the US approach, where President Trump in March signed an executive order to create a strategic Bitcoin reserve composed of seized assets, amounting to approximately 207,000 BTC—the largest of any sovereign nation.

Czech National Bank Governor Aleš Michl has also proposed diversifying his country’s foreign reserves by investing up to $7 billion in BTC, further illustrating the growing recognition of cryptocurrency’s potential value among European policymakers.

Supporters of Bitcoin, including Nordin, emphasize its utility as a payment method and a safeguard against inflation. They argue that in many regions, especially under authoritarian regimes, BTC serves as a crucial tool for freedom fighters to conduct transactions securely. 

As of now, BTC trades at $83,700, recording an 11% price surge in the weekly time frame. 

Featured image from DALL-E, chart from TradingView.com