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Swedish Parliamentarian Rickard Nordin (C) has asked the booking minister to diversify foreign currency holdings into bitcoin.
A recent written issue submitted to Sweden Riksdag is sparking debate on how the country manages its foreign exchange holdings. The query was proposed by parliamentarian Rickard Nordin (C) to see whether Sweden should consider including BTC in its official foreign exchange reserves.
“In view of this, I would like to ask the Secretary of Finance Elisabeth Svantesson whether she and the government are ready to consider inclusion of Bitcoin in a foreign exchange reserve,” Notting said to the Treasury Secretary, who stressed that some countries, the most prominent El Salvador countries, have established Bitcoin as fiat tenders.
He further pointed out how central banks around the world are increasingly discussing Bitcoin and its impact on monetary policy, which suggests that the concept of holding BTC may become an integral part of a broader financial preparedness strategy.
Will Sweden buy Bitcoin?
Although there are currently no Swedish regulations that allow Bitcoin to be included in a foreign exchange reserve, discussions on the matter have intensified around the world. Nordin’s written questions also refer to the developments in the United States, where Bitcoin appears in more formal environments, including exchange-traded funds and corporate purchases, as Nordin points out.
It is worth noting that President Donald Trump issued an executive order on March 6 to establish a strategic Bitcoin reserve, and the administration is now trying to expand in a “budget-neutral” way based on the text of the order.
Notting’s initiative arrived in Sweden with great caution on BTC’s official position. In March 2024, Ricksbank Governor Erik Thedéen said that Bitcoin has no place in Sweden’s financial system, describing it as “better and better” in the country.
The position responded to a previous call from November 2021, with Swedish authorities urging the EU to consider banning the use of energy-intensive proof-of-work mining methods. Erik Thedéen and Björn Risinger, the leaders leading the Swedish Financial Supervisory Authority and the Swedish Environmental Protection Agency, tried to stop Sweden’s new crypto launch projects and prevent companies relying on labor securities from marketing themselves or their activities for sustainable development.
By asking his questions, Nordin’s goal is to place Bitcoin’s role in national reserves firmly firmly on the political agenda. His inquiry also looked at how Sweden assessed global trends around digital assets and asked the government to assess the opportunities and risks of bringing BTC into its foreign exchange reserve structure.
Written questions in Riksdag are the mechanism for oversight and injecting new issues into policy discussions. How Minister Svantesson chooses to respond remains an open question and it is unclear whether the idea will cause or be dismissed.
At press time, BTC was trading at $80,016.
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