Bitcoin as the new Battleground – Sweden signals interest in joining the race


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Two members of the Swedish Parliament have proposed that the state investigate creating a strategic Bitcoin Reserve and clarify that it will not change the law that defines the central bank’s monetary policy. The idea is framed as a way to protect yourself against inflation and give the country another type of value store.

Sweden’s political push

Reports has revealed that the proposal comes from Swedish Democrats’ MPs Dennis Dioukarev and David Perez, who claimed that Sweden should “participate in this digital weapons cap.”

According to their archiving, a possible source of funding could be seized Bitcoin, but who would handle all holdings remain undetermined.

The Swedish Democrats won more than 20% of the votes in the election in 2022 and now play a key role that supports the current coalition, which gave their proposals weight in the capital.

A growing local cryptoscene

Sweden is already hosting a modest crypto industry. Reports show that 85 companies operate in the sector there, and 20 of these companies have together collected $ 48 million in companies and private financing.

Crypto -ATMs are run in the country. Exchanges are regulated and are subject to anti-money wash and knowledge rules that are enforced by the Swedish financial supervisory authority.

Source: Riksdag

A law adopted in November 2024 now allows the authorities to seize luxury articles, including crypto, even when the owner is not the target of the original probe.

Argument for a reserve

Dioukarev and perez say a Bitcoin Holding Would sit together with currency and gold reserves and help diversifying state assets. They point to Bitcoin’s 21 million supply lids and claim that this hard border can act as a hedge against inflation.

BTCUSD trading at $118,741 on the 24-hour chart: TradingView

According to their proposal, Bitcoin is “currently the world’s sixth largest asset”, larger than some global companies that they named and offer lower correlation with traditional reserves that can be affected by political or economic politics.

They also described transaction costs such as “negligible” and suggested that transfers may be faster than some Fiat transactions.

Image: ICOBench

Funding and political context

Other Swedish politicians have raised the issue before. Reports note that Rickard Nordin, Deputy Leader of the Center Party, recently urged the Finance Minister to consider Bitcoin.

The new proposal asks the government to guarantee that it will not change Riksbank Act to allow a central bank digital currency. This promise is intended as a signal that Stockholm does not plan to go towards a CBDC.

Image from meta, charts from tradingview

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