Swedish MP proposes Bitcoin inclusion in the country's foreign exchange reserves

A Swedish parliamentarian has introduced a budget-neutral plan to include Bitcoin in the country's foreign exchange reserves. The proposal follows the executive order issued by U.S. President Donald Trump on March 7 to create a Bitcoin reserve.

A Swedish parliamentarian has proposed a budget-neutral plan to include Bitcoin (BTC) in the country's foreign exchange reserves. The proposal follows the executive order issued by U.S. President Donald Trump to create a Bitcoin reserve.

In a public letter to Finance Minister Elisabeth Svantesson, member of Sweden's parliament Rickard Nordin urged her to consider Bitcoin as a national reserve asset, highlighting its role as an inflation hedge and the rapid growth of digital assets.

"In several oppressive countries, Bitcoin serves as an important asset that supports freedom fighters in their fight against authoritarian rule," wrote Nordin.

The Swedish MP noted that Bitcoin could diversify the country's reserves, which mainly include foreign currencies and gold.

U.S. Strategic Bitcoin Reserve

This idea follows similar proposals in various nations around the world. In March, U.S. President Donald Trump issued an executive order to create a national Bitcoin reserve, which would be funded by seized crypto assets.

This approach aims to create a reserve fund without incurring extra expenses on taxpayer funds. The U.S. government aims to acquire Bitcoin from criminal investigations rather than market purchases.

The proposals demonstrate the increasing adoption of Bitcoin in global financial operations. International investors treat Bitcoin as a store of value and a hedge against economic uncertainties.

Moreover, the central bank in the Czech Republic is also planning to add Bitcoin to its foreign reserves. However, European lawmakers have deliberately avoided discussions about Bitcoin legislation.

ECB Pursues Digital Euro

Europe is focused on developing a digital euro. The European Central Bank (ECB) plans to launch its central bank digital currency (CBDC) in October.

ECB President Christine Lagarde emphasized the need to have a digital euro in addition to cash, highlighting the privacy features of the digital euro, which will be designed with a pseudo-name to operate similarly to cash.

However, U.S. President Trump has voiced his opposition to the creation and circulation of CBDCs in the United States.

The recent developments in Sweden, the U.S., and Europe showcase the widespread trend in the adoption of digital assets. Bitcoin's recognition as an inflation hedge and reserve asset presents central banks with diverse opportunities for innovation and economic stability.

The EU continues to pursue the digital euro to balance innovation and data protection needs, aiming to introduce a CBDC with advanced technological capabilities and robust security measures.