Swedish Member of Parliament Rickard Nordin has formally questioned the federal government about whether or not it’ll permit the central financial institution so as to add Bitcoin (BTC) to the nation’s international forex reserves.
In an official written inquiry submitted to Finance Minister Elisabeth Svantesson, Nordin referenced worldwide momentum and a rising world debate on the position of digital property in nationwide monetary technique.
He pointed to the US, the place a number of states and federal officers have floated the concept of holding Bitcoin as a strategic reserve asset akin to gold, particularly within the face of escalating geopolitical and financial uncertainty.
Price range-neutral technique
Nordin stated that Bitcoin’s financial properties are akin to gold and it’s already being utilized in many components of the world as a fee methodology and as a hedge in opposition to hyperinflation.
He added that Bitcoin additionally performs a essential position for people underneath authoritarian regimes, providing them a way to maneuver and retailer worth past the attain of state management.
Quite than proposing direct purchases of Bitcoin, Nordin instructed a budget-neutral strategy: retaining Bitcoin confiscated by Swedish authorities, such because the Customs Service or police, fairly than liquidating it.
He used the US for example, the place federal companies have constructed up sizable holdings via asset seizures with out allocating taxpayer funds to accumulate the digital forex.
Sveriges Riksbank presently maintains a conservative reserve portfolio, primarily composed of foreign currency and gold. Nordin urged the federal government to rethink that technique in mild of evolving world monetary devices.
Authorities Response
The written query, formally registered underneath 2024/25:997, requires a proper response from Finance Minister Svantesson by April 16.
The federal government has not but indicated whether or not it’ll take steps to broaden the Riksbank’s mandate to incorporate Bitcoin in its holdings. The Finance Ministry has not commented on the inquiry on the time of publication.
Sweden’s transfer comes amid broader worldwide debates across the inclusion of decentralized digital property in sovereign financial planning.
Whereas El Salvador has already adopted Bitcoin as authorized tender and included it into nationwide reserves, extra superior economies have to date handled it primarily as a speculative asset.
Nordin’s proposal might immediate Sweden to discover a center floor, leveraging confiscated digital property as a strategic hedge with out making direct monetary bets.