A member of the Swedish Parliament, Rickard Nordin, has officially inquired whether the government intends to permit the central bank to include Bitcoin (BTC) in the country’s foreign currency reserves.
In a formal written question addressed to Finance Minister Elisabeth Svantesson, Nordin highlighted the growing global discourse regarding digital assets and their potential role in national financial tactics.
He noted that in the United States, several states, along with federal officials, have proposed considering Bitcoin as a strategic reserve asset similar to gold, particularly amid increasing geopolitical and economic uncertainties.
### A Budget-Neutral Approach
According to Nordin, Bitcoin’s monetary characteristics are akin to gold, and it is already utilized across the globe for payments and as a safeguard against hyperinflation. He emphasized Bitcoin’s significance for individuals living under authoritarian regimes, offering a way to transfer and hold value outside governmental control.
Rather than advocating for direct purchases of Bitcoin, Nordin proposed a budget-neutral strategy: retaining Bitcoin that has been confiscated by Swedish authorities like the Customs Service or police, instead of liquidating it.
He cited the U.S. as an example, where federal agencies have amassed significant holdings of Bitcoin through asset seizures without needing to use taxpayer funds.
Currently, the Sveriges Riksbank manages a conservative reserve portfolio that is largely composed of foreign currencies and gold. Nordin urged the government to reassess this approach given the changing landscape of global financial instruments.
### Awaiting Government Response
Nordin’s inquiry, cataloged under 2024/25:997, necessitates a formal reply from Finance Minister Svantesson by April 16.
As of now, the government has not indicated whether it plans to broaden the Riksbank’s mandate to incorporate Bitcoin. The Finance Ministry has remained silent on the matter at the time of this report.
Sweden’s consideration comes amidst a wider international discussion about the role of decentralized digital assets in national monetary policies. While El Salvador has already integrated Bitcoin as legal tender and into its national reserves, more developed economies have primarily viewed it as a speculative investment.
Nordin’s suggestion could encourage Sweden to find a middle ground by utilizing confiscated digital assets as a strategic safeguard without committing directly to financial investments.