Sweden considers Bitcoin for national reserves

Political leaders worldwide are backing Bitcoin in national finance — Sweden could follow, despite its cautious regulatory stance on cryptocurrency.

Sweden is considering adding Bitcoin to its reserves after MP Rickard Nordin proposed it as a hedge against inflation and a tool for financial resilience.

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.

For more information on these topics, visit diplomacy.edu.