Compass Investments

-A Swedish parliamentarian is bringing up the idea of including bitcoin in the country’s reserves.

April 8, Rikard Nordin, representing the parliament, sent an official letter to Finance Minister Elisabeth Svantesson, calling on him to explore the possibility of adding the main cryptocurrency to Sweden’s national reserves. In his letter, Nordin emphasized that Sweden has a tradition of conservative and prudent management of foreign reserves, mainly consisting of foreign currencies and gold.

ordin pointed to the rapid development of the digital asset sector, emphasizing that many international participants see bitcoin as a savings instrument and a way to protect against inflation. In many parts of the world, bitcoin is being used as a payment method and a hedge against rising inflation.

In his address, the MP also emphasized the importance of bitcoin as a key tool for freedom fighters to make payments while under pressure from authoritarian regimes.

The Swedish proposal echoes President Trump’s executive order signed last March to create a national bitcoin reserve funded by assets seized in criminal proceedings. The executive order authorized the Secretaries of Treasury and Commerce to develop budget-neutral ways to acquire bitcoin for the reserve, provided there is no additional cost to taxpayers. A Swedish lawmaker has proposed a similar approach.