Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions

Core Viewpoint - Sweden is considering establishing a national Bitcoin reserve, following a parliamentary motion aimed at investigating the feasibility and management of such a reserve [1][3]. Group 1: Legislative Motion - The motion titled "A Swedish Bitcoin Strategy" was submitted by Dennis Dioukarev and David Perez of the Sweden Democrats on October 1 [1]. - It requests the government to confirm that there are no plans to change the legal definition of tender or introduce a central bank digital currency [2]. Group 2: Rationale for Bitcoin Reserve - Lawmakers argue that Bitcoin could serve as a complementary asset to existing gold and foreign exchange reserves held by Sweden's central bank [3]. - The proposal highlights several reasons for adding Bitcoin to state reserves, including diversification, inflation protection due to its capped supply of 21 million, and liquidity advantages over fiat currencies [5]. Group 3: Digital Innovation and Financial Sovereignty - Bitcoin is framed as a signal of digital innovation, comparable in scale to silver and larger than major companies like Tesla, Meta, and Amazon [6]. - The motion suggests a budget-neutral approach by transferring seized Bitcoin to the Riksbank or another authority instead of auctioning it [6]. - Lawmakers have been advocating for a national Bitcoin strategy, emphasizing its potential to safeguard financial sovereignty amid global uncertainty [7]. Group 4: International Context - Other countries, such as the UK and Finland, have accumulated Bitcoin through seizures, while nations like the Czech Republic, Latvia, and Poland are considering similar strategies [4]. - The United States has formalized its approach to Bitcoin holdings after years of building reserves through seizures [8].