Two lawmakers in Sweden’s parliament have urged the government to consider establishing a national Bitcoin reserve, reflecting a growing trend among European nations to integrate Bitcoin into their financial assets.
The proposal, submitted on October 1 by Swedish Democrats Dennis Dioukarev and David Perez, requests the Riksdag to assign the government the task of exploring how a Bitcoin reserve could be created, as well as determining the overseeing authority.
“By establishing a strategic Bitcoin reserve, Sweden is preparing for a potentially transformative change in the global financial landscape,” the proposal noted.
The lawmakers also called on the government to affirm that it would maintain the current definition of legal tender under the Riksbank Act — a position that would eliminate the possibility of a central bank digital currency in Sweden.
“The Riksdag supports the statement in the proposal that the government should declare its intention to not alter the definition of legal tender and communicate this to the government,” the proposal stated.
In their motion, Dioukarev and Perez characterized Bitcoin as “digital gold,” suggesting it could enhance Sweden’s current gold and foreign exchange reserves.
They emphasized Bitcoin’s limited supply and autonomy from governmental monetary policies as unique diversification advantages.
Reasons Behind Sweden’s Interest in Bitcoin
This initiative emerges as nations around the globe are reevaluating their stance on cryptocurrencies. In the United States, President Donald Trump signed an executive order earlier this year to create a federal Bitcoin reserve, primarily funded through confiscated digital assets.
Both Finland and the United Kingdom have amassed Bitcoin via asset seizures, while Poland, Latvia, and the Czech Republic are contemplating the establishment of their own reserves.
Currently, Sweden does not publicly maintain any Bitcoin holdings, according to data from Bitbo. The proposed framework could offer a budget-neutral method for establishing a reserve, as lawmakers noted, by transferring confiscated Bitcoin into state management.
El Salvador and Bhutan have been pioneers in accumulating Bitcoin reserves, while various U.S. states such as Texas, Arizona, and New Hampshire have enacted legislation to form their own reserves.
Recently, Kazakhstan introduced a government-supported crypto reserve with the backing of Binance.
The proposal is set to be reviewed by the Riksdag’s Finance Committee later this month.
