Sweden is preparing for a bitcoin revolution? Two members of the Swedish parliament, Riksdag, proposed that their country analyze the possibility of creating a Bitcoin strategic reserve.
Sweden will bet on Bitcoin?
Swedish MPs, Dennis Dioukarev and David Perez, want the government to analyze the idea of creating a bitcoin reserve, and also cut off from ideas about CBDC. In their document, they stated that, taking into account that other countries, such as the United States, are already in the process of creating BTC reserves, Sweden should “take part in this digital arms race and join the growing group of countries that accepted and appreciated Bitcoin’s potential.”
They argue that the BTC reserve, next to the Swedish foreign exchange reserves and gold, which are associated with “political, geopolitical and economic risk” would be a protection against all anxiety in the world. They added that “the value of Bitcoin is not shaped by the monetary policy of individual countries or any specific economy.” The reserve would also act as inflation protection due to the supply limit of 21 million coins.
Sweden currently has no bitcoins, even confiscated by criminals. In November 2024, only a law was voted by allowing services to confiscate luxury goods, including cryptocurrencies, even if they are not the subject of the investigation.
Does the idea of creating a bitcoin reserve have a chance to implement? Right -wing Swedish Democrats, to which both mentioned MPs belong to the party, can boast of the second largest number of seats and play a key role in the current ruling coalition consisting of centrists, liberals and Christian democrats.
However, Dioukarev and Perez are not the first Swedish parliamentarians who force the creation of the BTC reserve. In April, the Swedish MP and vice -chairman of the Center party, Rickard Nordin, published an open letter in which the finance minister Elisabeth Svanthesson called to consider the creation of such a reserve. Then this idea could not be implemented.
No CBDC in Sweden
In addition to the proposal to create a Bitcoin, Dioukarev and Perez reserve, the government would promise that it will not change the definition of a legal payment means in the Riksbank Act, which regulates the monetary policy of the Swedish Central Bank, Sveriges Riksbank, to show that “does not intend to introduce CBDC.” It is also a reference to the US policy, where clear pressure on the FED can not even think about the emission of a digital dollar.
