Sweden is considering a bold step into the cryptocurrency space as lawmakers submit a motion to establish a national Bitcoin reserve. The proposal aims to use the world’s largest crypto asset as both a hedge against inflation and a diversification tool for state-owned holdings.
The motion, presented on October 1, suggests funding the reserve using Bitcoin confiscated by law enforcement rather than new taxpayer money. Under Swedish law, authorities can seize luxury items and crypto from individuals unable to justify their wealth. To date, these seizures have amounted to over $8.4 million, providing a potential pool of capital for the reserve.
If approved, the motion would allow the transfer of seized Bitcoin to the Riksbank or a designated authority, bypassing traditional auctions. Lawmakers argue that Bitcoin’s capped supply, liquidity, and independence from central banks make it an ideal addition alongside gold and foreign currencies.
The proposal also emphasizes maintaining Bitcoin’s legal status and opposes introducing a central bank digital currency (CBDC) under the Riksbank Act. Supporters say this would provide clarity for market participants and uphold Sweden’s commitment to financial openness.
Sweden’s move aligns with a growing global trend. Lawmakers cited the United States’ ongoing development of a strategic Bitcoin reserve under the GENIUS Act and noted interest from countries like Finland, Kyrgyzstan, Ukraine, Kazakhstan, and Brazil. Earlier this year, Swedish lawmakers had already advocated for a national strategy embracing Bitcoin as part of the country’s long-term financial planning.
With the parliamentary review set for October 15, the proposal could mark a significant step in Sweden’s integration of cryptocurrency into national fiscal strategy.
