Sweden may soon follow the lead of other nations by considering Bitcoin for its national reserves.
In a formal letter, Member of Parliament Rickard Nordin urged the Finance Minister to diversify Sweden’s foreign exchange reserves with Bitcoin.
He cited Bitcoin’s growing role as a hedge against inflation and highlighted its political significance in supporting freedom under authoritarian regimes.
Nordin’s call aligns with a broader international debate. Countries like El Salvador and Bhutan already hold Bitcoin in their treasuries. Some, like the US, plan to build reserves using Bitcoin confiscated in criminal cases, rather than purchasing it directly.
Despite growing political interest, Sweden’s regulatory stance remains cautious. Authorities have cracked down on crypto tax evasion, with 18 of 21 Bitcoin miners found to have submitted false tax returns. These false submissions resulted in nearly $90 million in taxes being evaded.
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China and Russia have reportedly started using Bitcoin for settling certain energy transactions. It is a development that signals a shift away from the US dollar in global trade.
The move comes amid growing trade tensions and increasing interest in decentralised digital assets. According to Matthew Sigel, Head of Digital Assets Research at VanEck, Bitcoin’s role in trade is evolving beyond speculation.
The report highlights a growing trend of using digital assets in practical commerce, particularly in energy markets. Bitcoin’s neutral and decentralised nature makes it an appealing option for countries facing financial restrictions.
The shift may reinforce Bitcoin’s role as a hedge against monetary instability as international players are seeking alternative settlement methods.
Bolivia also plans to use cryptocurrency for power imports, while EDF is exploring Bitcoin mining to monetise surplus electricity.
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Michael Saylor’s firm, Strategy, may be forced to sell part of its Bitcoin reserves to meet mounting financial obligations. A recent filing warned that the company may struggle to meet obligations without new equity or debt funding.
Strategy holds over 528,000 BTC, acquired for more than $35 billion at an average price of $67,458. Despite this, the company expects an unrealised loss of nearly $6 billion in Q1 2025.
With $8 billion in debt, $35 million in annual interest, and $150 million in dividends, the firm faces significant pressure.
In March, Strategy announced plans to raise $2.1 billion through a perpetual preferred stock offering an 8% dividend. It would fund company operations and allow further Bitcoin purchases. Still, its future hinges on Bitcoin’s market performance.
Bitcoin is currently trading around $76,000, down 10% over the week. While Trump’s tariffs have affected market sentiment, analysts suggest Bitcoin could reach $110,000 as global interest rates fall.
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James A. Murphy, known online as ‘MetaLawMan,’ has filed a lawsuit against the US Department of Homeland Security (DHS). The legal action aims to uncover documents that could potentially reveal the identity of Satoshi Nakamoto, the elusive creator of Bitcoin.
The lawsuit, filed in a DC District Court, follows a 2019 statement by DHS Special Agent Rana Saoud. She suggested the agency had identified and interviewed four individuals involved in the creation of Bitcoin at a California conference.
Murphy is seeking internal DHS records, such as emails and notes from the meeting, after his FOIA requests went unanswered. He argues that the identity of Nakamoto has become increasingly important.
It is particularly true with the rise of Bitcoin ETFs and a recent executive order from President Donald Trump, which established a strategic Bitcoin reserve.
The identity of Nakamoto has remained one of the biggest mysteries in the cryptocurrency world. Despite ongoing speculation, no one has conclusively identified the person or group behind the pseudonym.
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In a dramatic escalation of the US-China trade war, Trump threatened to raise tariffs on Chinese imports. He announced on Truth Social that China would face a 50% tariff unless it removed retaliatory measures by 8 April 2025.
These measures would push the total tariffs on Chinese goods to 104%. The specific items, like automobiles and electronics, should face even higher rates.
The US has already imposed a 54% tariff on Chinese goods. China retaliated with 34% tariffs on US products. It has led to rising concern in both stock and crypto markets.
Since the announcement of the ‘Liberation Day’ tariff increase, average US tariffs on foreign goods have reached 18.8%. As a result, the crypto market has lost $1 trillion in value. Traders are fearing rising inflation and negative economic consequences.
However, some traders remain optimistic, believing that Trump’s tariffs are a negotiating tactic rather than a long-term measure. Recent polling on Polymarket shows that 59% of traders expect Trump to reduce most tariffs by July.
Bitcoin’s price spiked to $81,119 following the announcement, only to fall back to $78,321 as traders await further developments.
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Billionaire investor Ray Dalio has warned that the recent market turbulence is part of a larger global crisis. The turmoil has been triggered mainly by President Trump’s tariff policies.
In a new statement, Dalio described the situation as a ‘once-in-a-lifetime’ breakdown of the global order. He emphasised that this disruption is driven by forces far beyond short-term market volatility.
Dalio pointed to five key forces reshaping the world. These include unsustainable debt, domestic political unrest, shifts in global power, environmental challenges, and the rise of technologies like AI.
He stressed that tariffs are just a symptom of larger systemic issues. One key issue is the imbalance between debtor nations, such as the US, and creditor nations like China.
The relationship between cryptocurrency markets and equities has become more intertwined. Bitcoin, in particular, has shown increased sensitivity to macroeconomic factors. It may decouple from risk assets, outperforming tech stocks despite rising yields and inflation fears.
As global financial and political structures continue to unravel, markets are likely to face more widespread disruptions.
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Since February 19, US stock markets have suffered a massive $11 trillion loss, with the downturn worsening after President Donald Trump announced his new tariff policy.
The market lost $3.25 trillion on 4 April alone. The amount surpassed the entire global cryptocurrency market valuation, which stood at $2.68 trillion at the time.
Major tech stocks were among the hardest hit, with Tesla falling 10.42%, and Nvidia and Apple dropping 7.36% and 7.29%. The broad sell-off pushed the Nasdaq 100 down 6%, officially entering bear market territory.
Analysts have pointed to Trump’s 2 April tariff policy as a key factor. They warned that continued tariffs could lead to an unavoidable recession. The new tariffs include a 10% levy on imports and reciprocal tariffs to address trade imbalances.
While traditional markets are reeling, Bitcoin has shown resilience. Some analysts view Bitcoin’s stability as a potential hedge against macroeconomic instability.
Bitcoin commentator Anthony Pompliano suggested the Trump administration might be causing market turmoil. It is seen as an effort to pressure the Federal Reserve into lowering interest rates, crucial for managing US debt.
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Bitcoin has been struggling throughout April, with its price falling to a three-week low of $77,077. According to Ki Young Ju, CEO of CryptoQuant, this stagnation reflects a longer-term bearish trend.
On-chain data shows that capital inflows are rising. However, there is no corresponding increase in Bitcoin’s price, suggesting the market is in a bear phase.
Ju explained that a key indicator of a bear market is the divergence between market cap and realised cap. Realised cap tracks actual money flowing into Bitcoin through wallet movements. Market cap, on the other hand, reflects the most recent price on exchanges.
Ju pointed out that, historically, Bitcoin’s price does not experience a true reversal within a short period. He predicts that the current bear market could last at least six months, making a rapid recovery unlikely.
Global market instability, triggered by Trump’s new tariffs, has increased volatility and raised doubts about Bitcoin’s role as a haven.
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Prominent hedge fund manager Bill Ackman has called for a 90-day pause on upcoming US tariffs. He warned that the current policy direction could spark an ‘economic nuclear winter’.
A strong supporter of Donald Trump, Ackman expressed deep concern over the sweeping tariff measures announced last week. These include a 25% levy on all foreign-made vehicles and a 10% minimum import tariff.
Ackman cautioned that such drastic steps risk eroding global business confidence, halting investment, and causing mass layoffs. He called the administration’s approach simplistic and harmful.
Treating allies and adversaries alike, he said, damages the US’s reputation as a trading partner.
Markets have responded swiftly, with Bitcoin falling 7.6% to $77,300, wiping out around $70 billion in value. Ethereum dropped even further, losing 14% in a single day.
Analysts warn that if sentiment continues to slide, Bitcoin could fall as low as $52,000 by summer. Ethereum may face a more significant downside due to broader structural challenges.
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Arthur Hayes, the co-founder of BitMEX, believes that the tariffs introduced by US President Donald Trump could benefit Bitcoin to benefit. Bitcoin sees this impact occurring in the medium term.
He argues that while the tariffs may disrupt the global economy, the resulting financial imbalances would ultimately be corrected. The correction would come with printed money, which bodes well for Bitcoin’s price.
Hayes made his comments following the announcement of a 10% tariff on all countries, with certain nations like China facing even higher rates.
According to Hayes, these tariffs will weaken the US Dollar Index (DXY), as foreign investors sell off US stocks and repatriate their funds. The situation could push investors towards Bitcoin and other safe-haven assets like gold.
Hayes also predicts that tariffs on China could lead to a devaluation of the yuan. Furthermore, Hayes suggests that the Federal Reserve may need to implement easing measures. It could include rate cuts in response to the economic impacts of the tariffs.
Hayes’ stance aligns with Jeff Park of Bitwise Invest. He also believes that Trump’s tariffs could ultimately send Bitcoin’s price soaring.
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