Swedish Member of Parliament Rickard Nordin has formally questioned the federal government about whether or not it can enable 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 function of digital property in nationwide monetary technique.
He pointed to the US, the place a number of states and federal officers have floated the thought of holding Bitcoin as a strategic reserve asset akin to gold, particularly within the face of escalating geopolitical and financial uncertainty.
Funds-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 cost technique and as a hedge in opposition to hyperinflation.
He added that Bitcoin additionally performs a crucial function for people below authoritarian regimes, providing them a method to maneuver and retailer worth past the attain of state management.
Moderately than proposing direct purchases of Bitcoin, Nordin instructed a budget-neutral method: retaining Bitcoin confiscated by Swedish authorities, such because the Customs Service or police, relatively than liquidating it.
He used the US for instance, the place federal businesses have constructed up sizable holdings by means of asset seizures with out allocating taxpayer funds to accumulate the digital forex.
Sveriges Riksbank at present maintains a conservative reserve portfolio, primarily composed of foreign currency echange and gold. Nordin urged the federal government to rethink that technique in gentle of evolving world monetary devices.
Authorities Response
The written query, formally registered below 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 can take steps to develop 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 integrated it into nationwide reserves, extra superior economies have thus far handled it primarily as a speculative asset.
Nordin’s proposal may immediate Sweden to discover a center floor, leveraging confiscated digital property as a strategic hedge with out making direct monetary bets.
