Sweden Proposes National Bitcoin Reserve to Diversify State Holdings and Provide Inflation Protection

Thursday, Oct 2, 2025 6:54 am ET2min read

Two Swedish lawmakers have proposed creating a national Bitcoin reserve to diversify state holdings and provide inflation protection. The proposal, backed by the Riksdag's right-leaning party, calls for an investigation into building a strategic Bitcoin reserve and which authority should manage it. The lawmakers argue that Bitcoin could serve as a complement to gold and foreign exchange reserves, and could reduce overall correlation among assets in the reserve. Several countries have already established or proposed state-backed crypto reserves.

Two Swedish lawmakers, Dennis Dioukarev and David Perez of the Sweden Democrats, have proposed creating a national Bitcoin reserve to diversify state holdings and provide inflation protection. The proposal, backed by the Riksdag's right-leaning party, calls for an investigation into building a strategic Bitcoin reserve and determining which authority should manage it Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1].

The lawmakers argue that Bitcoin could serve as a complement to gold and foreign exchange reserves, reducing overall correlation among assets in the reserve. They cite the United States, which has recently formalized its approach to Bitcoin holdings, as an example Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. Other countries, such as the United Kingdom and Finland, have also accumulated Bitcoin through seizures, while the Czech Republic, Latvia, and Poland are reportedly considering similar strategies Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1].

The Swedish proposal outlines several reasons for adding Bitcoin to state reserves, including diversification, inflation protection, and liquidity. Bitcoin's value is not tied to any single country's monetary policies, its supply is capped at 21 million, and it trades continuously at low transaction costs compared to fiat currencies Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. The lawmakers also frame Bitcoin as a signal of digital innovation, describing it as an asset comparable in scale to silver and larger than companies such as Tesla, Meta, and Amazon Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1].

To avoid additional spending, the motion suggests a budget-neutral approach in which law enforcement agencies transfer seized Bitcoin to the Riksbank or another designated authority instead of auctioning it off Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. The debate over a national Bitcoin strategy has been building in Sweden throughout 2025. In April, MP Dennis Dioukarev wrote to Finance Minister Elisabeth Svantesson urging her to consider adding Bitcoin to the country's reserves Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. The proposal now before parliament will be reviewed by the Finance Committee on October 15, where lawmakers will debate whether Sweden should join the growing list of nations actively exploring state-level Bitcoin reserves Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1].

Sweden is also seeing a growing convergence between crypto adoption and tougher state oversight. Justice Minister Gunnar Strömmer instructed authorities to step up asset seizures under a new law targeting unexplained wealth, which took effect in November 2024. The measure allows confiscation of cash, crypto, and luxury goods if owners cannot justify their income Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. So far, over $8.3 million has been seized, with controversial cases such as a woman losing $137,000 and a Rolex at Gothenburg airport Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. At the same time, Swedish firms are increasingly turning to Bitcoin as a treasury asset. Health technology company H100 Group AB disclosed a 4.39 BTC purchase in May, calling it a "long-term" balance sheet strategy Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. In July, digital commerce firm Refine Group AB followed with a $1 million Bitcoin reserve funded through a share issue Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1].

Nations and states across the globe are also exploring strategic Bitcoin reserves. Massachusetts is set to debate the creation of a state-backed Strategic Bitcoin Reserve (SBR), with lawmakers scheduled to hold a hearing on October 7. Similar measures have already passed in Texas and Utah, while Wyoming and Michigan are considering bills that would allocate a portion of state funds to Bitcoin Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. Kazakhstan recently launched its first national crypto reserve, the Alem Crypto Fund, selecting BNB as its initial asset in partnership with Binance Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1]. Brazil is weighing a $19 billion Bitcoin reserve through its RESBit initiative, while the Philippines and Pakistan have outlined their own state-led strategies Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions[1].

Sweden Proposes National Bitcoin Reserve to Diversify State Holdings and Provide Inflation Protection