A Swedish lawmaker is pushing for Sweden to join the growing number of countries exploring Bitcoin as a strategic asset. This isn’t just some fringe idea; it’s gaining traction among some influential figures.
Bitcoin as a National Reserve?
Dennis Dioukarev, a member of the Swedish parliament, has formally proposed a national Bitcoin strategy to the country’s finance minister. His idea? Sweden could acquire Bitcoin using confiscated criminal assets, boosting its reserves without spending taxpayer money. He points to the US government’s similar initiative under President Trump as an example. Basically, he’s asking, “Why not us?”
Not Everyone’s On Board
This isn’t the first time this idea has been floated in Sweden. Another MP, Rickard Nordin, previously made a similar suggestion, arguing that Bitcoin’s growing importance as a store of value and inflation hedge makes it a smart addition to national reserves.
However, Europe’s stance on Bitcoin is far from unified. The President of the European Central Bank, Christine Lagarde, remains skeptical about major banks holding Bitcoin. This contrasts sharply with the US approach, which, as mentioned, already holds a significant Bitcoin reserve from seized assets. The Czech National Bank governor has even suggested investing billions in Bitcoin.
Bitcoin: More Than Just an Investment?
Supporters argue Bitcoin offers more than just a potential investment. They see it as a payment method and a safeguard against inflation, particularly useful in countries with authoritarian regimes where secure transactions are difficult.
Currently, Bitcoin’s price is around $83,700, showing strong recent growth. Whether Sweden will actually adopt this strategy remains to be seen, but the debate is certainly heating up.