Following the United States, which is moving forward with proposals to include Bitcoin in its reserves, Sweden is now the latest country to study this possibility, indicating a gradual movement towards institutional legitimacy in Europe.
Sweden may become one of the countries in Europe to consider adopting Bitcoin for its foreign exchange reserves. On April 8, parliamentarian Rickard Nordin presented a formal proposal to Finance Minister Elisabeth Svantesson suggesting that cryptocurrency be integrated into the national asset portfolio alongside foreign currencies and gold.
The congressman argues that the country already has a traditionally conservative approach to managing reserves, but that the advancement of cryptocurrencies as a store of value and inflation protection deserves attention. He cited the growing use of Bitcoin in countries with economic instability, where the digital currency acts as a means of payment and an alternative to the traditional banking system.
Nordin also highlighted the strategic role of Bitcoin in contexts of authoritarian regimes. According to him, the cryptocurrency represents a form of financial resistance for activists and citizens facing political limitations, being an effective tool for maintaining access to payments in scenarios of repression.
The parliamentarian’s proposal is similar to measures already observed in other nations. In the United States, former President Donald Trump signed an executive order providing for the creation of a national Bitcoin reserve funded by assets confiscated from criminal actions. The American text determined that the acquisition of BTC should occur without burdening the public budget, a proposal that inspires the Swedish approach.
The proposal is still awaiting an official response from the Swedish government, but it raises an important point about how nations are reviewing their reserve models to keep up with the maturing cryptocurrency market and the evolution of the global financial system.