Can Sweden Include Bitcoin Into Foreign Exchange Reserve?
Highlights
- Swedish MP submits a request to the finance minister to reconsider the country's foreign exchange management.
- The MP's request includes the potential addition of Bitcoin to the foreign currencies reserve.
- Sweden's current lows do not restrict the inclusion of Bitcoin into the reserve.
Sweden is exploring the possibility of adding Bitcoin to its foreign currency holdings amidst the growing trend of BTC reserves. Member of Parliament Rickard Nordin submitted a request to the Finance Minister, Elisabeth Svantesson, to reconsider the country’s foreign exchange reserve management.
Sweden Considers Adding Bitcoin To Foreign Exchange Reserves
Joining the growing list of countries exploring Bitcoin as a reserve asset, Sweden is set to diversify its foreign currency reserves. The request submitted by Rickard Nordin to the Finance Minister underscores the potential of a Bitcoin reserve, exemplifying it with other nations’ financial strategies. The MP’s statement read, “In light of this, I would like to ask Minister of Finance Elisabeth Svantesson whether she and the government are prepared to consider including Bitcoin in the foreign exchange reserve.”
Rickard Nordin pointed to El Salvador as a notable example, highlighting its pioneering move to adopt Bitcoin as legal tender. He also cited multiple central banks’ discussions on the potential of BTC and its influence on the global financial landscape.
Sweden’s Cautious Stance on Crypto
It’s noteworthy that the Swedish Parliament Member’s Bitcoin proposal comes amidst the country’s cautious stance on cryptocurrencies.
Previously, in March 2024, Riksbank Governor Erik Thedéen expressed his skepticism toward BTC, citing its volatility and inherent risks. He posited that BTC has no place in Sweden. Citing its speculative nature, Thedéen stated that less exposure to Bitcoin is better for the country.
However, no regulations or laws in the Swedish government currently restrict Bitcoin’s inclusion in the foreign exchange reserve. Thus, Nordin’s request has sparked discussions on potential policy shifts in the country’s financial economy.
What Drives Global Quest for Bitcoin Reserve?
Significantly, the global quest for a Bitcoin reserve is primarily driven by US President Donald Trump’s crypto-focused policies. During his 2024 election campaign, Trump endorsed BTC as the world’s superpower, promising to turn America into a crypto capital.
Trump’s Executive Order
In March 2025, Donald Trump signed an executive order to establish Bitcoin as the country’s strategic reserve. This has sparked widespread optimism, with BTC maximalists celebrating it as the community’s victory.
Global Powers Embrace BTC
Influenced by Trump’s policies, countries like Switzerland, Poland, Germany, Japan, and more are exploring the possibilities of adopting a Bitcoin reserve. North Korea’s increasing accumulation of BTC has also sparked speculations of the country’s approach to a crypto reserve.
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