Following reports from Crypto News Flash, back in 2024, Norway and Switzerland’s central banks significantly increased their stakes in MicroStrategy, gaining indirect Bitcoin exposure.
At the moment, particularly, Sweden may soon join the growing list of countries exploring Bitcoin-backed national reserves following a formal proposal by Swedish Member of Parliament Rickard Nordin.
A Push for Digital Resilience
In a letter dated April 8 to Finance Minister Elisabeth Svantesson, Nordin advocated for diversifying Sweden’s foreign exchange reserves by including Bitcoin, citing its growing global importance.
He also emphasized that the digital asset space is evolving rapidly, with many international actors now viewing Bitcoin as both a custodian asset and a hedge against inflation.
Nordin also highlighted Bitcoin’s role as a medium of payment and a safe haven during economic volatility, stating that it reinforces the political and humanitarian benefits of decentralized finance. As shared by a tweet from Wu Blockchain:
Nordin suggested that Sweden could accumulate strategic reserves by holding Bitcoin seized by customs or police, rather than liquidating it, avoiding additional tax burdens. The proposal requires a formal response from Finance Minister Svantesson by April 16.
Global Momentum for Bitcoin Reserves
Sweden’s proposal aligns with a growing international discourse on Bitcoin’s role in state finance. Countries such as El Salvador and Bhutan have already incorporated Bitcoin into their national treasuries, while developed economies are beginning to explore similar avenues.
In March, former U.S. President Donald Trump signed an executive order for a national Bitcoin reserve, utilizing seized assets rather than direct market purchases.
Germany’s Christian Lindner and Switzerland have also shown support, with the latter suggesting a constitutional amendment to compel the Swiss National Bank to hold Bitcoin.
Regulatory Hurdles at Home
According to recent updates, despite the proposal, Sweden’s broader stance toward crypto remains cautious. In 2024, Swedish authorities took strong action against cryptocurrency businesses, labeling certain exchanges as “professional money launderers” and uncovering widespread tax evasion among Bitcoin miners.
Therefore, these regulatory concerns highlight the challenges Sweden faces in integrating Bitcoin into its national reserves.
Bitcoin’s Current Standing
According to analyst suggestions, Bitcoin’s price could reach as high as $133,000, offering a favorable risk/reward profile for investors.
Sweden’s consideration of Bitcoin for its national reserves reflects a significant shift in financial strategy, balancing innovation with regulatory prudence.
At the time of writing, Bitcoin is trading at approximately $85,171.21, reflecting a 0.79% increase in the past day and 10.40% in the past week, according to CoinMarketCap data. This shows resilience amid global economic uncertainties. See BTC price chart below.
