Sweden’s Opposition Party Pushes for National Bitcoin Reserve

Sweden Eyes Bitcoin as Strategic Hedge

Sweden is entering the global Bitcoin reserve debate after two members of parliament from the Swedish Democrats submitted a proposal to the Riksdag. Lawmakers Dennis Dioukarev and David Perez argued that the country should begin building a strategic Bitcoin reserve to diversify its holdings, protect against inflation, and prepare for what they describe as a “disruptive shift in the global financial infrastructure.”

The pair also demanded that the government promise not to alter the legislation that governs the monetary policy of Sweden’s central bank, Sveriges Riksbank. Their goal is to make it clear Sweden has no intention of introducing a central bank digital currency (CBDC), which they claim would undercut privacy and innovation.

According to their proposal, Sweden must not sit idle while the United States and other nations push forward with nation-state Bitcoin reserves.

A Political Push with Real Influence

The Swedish Democrats, who secured over 20% of the vote in the 2022 election, hold substantial leverage in the ruling coalition despite being an opposition party. That gives their proposals more weight than most, as they help maintain the balance of the minority government led by the Moderates, Liberals, and Christian Democrats.

Dioukarev and Perez outlined how a Bitcoin reserve could serve as a buffer against political, geopolitical, and economic risks tied to fiat reserves and gold. T

The proposal also argues that owning Bitcoin signals openness to digital innovation—something Sweden could leverage to strengthen its crypto sector, which already hosts 85 active companies, including 20 startups that have raised $48 million in private capital.

Bitcoin as Inflation Hedge and Innovation Signal

For Dioukarev and Perez, the appeal of Bitcoin lies in its fixed 21 million supply, fast transaction speeds, and low cost.

The lawmakers suggested funding the reserve partly through seized Bitcoin, though management of the holdings remains an open question. The idea mirrors proposals in the U.S., where seized crypto assets have already seeded strategic reserves.

Sweden’s Long Dance with CBDCs

Alongside the Bitcoin proposal, the Swedish Democrats are pressing for a government pledge not to introduce a CBDC. Sweden already operates with one of the most digitized financial systems globally, with most payments handled via the mobile app Swish.

The Riksbank has been testing a digital krona since 2020, but its final report in March 2024 concluded that introducing a CBDC would be “ultimately a political decision.” Critics, including the Human Rights Foundation, warn CBDCs could erode privacy and expand the potential for government abuse, even as advocates tout improved efficiency.

Sweden Joins Global Trend Toward National Bitcoin Reserves

Sweden doesn’t yet hold Bitcoin, but the move would align it with nations exploring strategic crypto reserves. El Salvador pioneered the trend in 2021, while Bhutan, Brazil, and Indonesia have all explored similar initiatives.

If adopted, Sweden’s Bitcoin reserve could be a defining signal to markets that the Nordic nation is ready to hedge against inflation while embracing financial innovation. Whether the proposal gains traction in a parliament dominated by other parties remains uncertain, but its introduction marks a significant milestone.