Swedish Parliament Member Proposes Adding Bitcoin to National Reserves

A member of Sweden's parliament has proposed adding Bitcoin to the country's foreign exchange reserves. MP Rickard Nordin sent an open letter to Finance Minister Elisabeth Svantesson, recommending Bitcoin as a national reserve asset.

The proposal, registered on April 8, points to Sweden's history of "conservative and carefully managed foreign exchange reserve" which currently consists mainly of foreign currencies and gold. Nordin suggests Bitcoin could complement these traditional assets.

In his letter, Nordin noted the growing importance of digital assets globally. "Several international players regard bitcoin as a custodian and a hedge against inflation. In many parts of the world, bitcoin is used as a means of payment and as security against rising inflation," he wrote.

Nordin also highlighted Bitcoin's role in supporting free speech in repressive regimes. "It is also an important way for freedom fighters to handle payments when under the oppression of authoritarian regimes," the lawmaker stated in his letter.

The Swedish proposal comes amid wider global interest in Bitcoin reserves. In the United States, 26 states have introduced Bitcoin reserve bills, with Minnesota and Alabama being the latest to file legislation in early April 2025. These state initiatives follow President Trump's March executive order establishing a US Strategic Bitcoin Reserve.

The Czech National Bank governor has also expressed interest in Bitcoin. According to a January 7 Cointelegraph report, the central bank is considering Bitcoin as part of a potential strategy to diversify the country's foreign reserves.

Trump's order directed Treasury and Commerce secretaries to develop "budget-neutral strategies" for acquiring more Bitcoin. This approach ensures no additional costs to taxpayers while building the national reserve.