Swedish MP Rickard Nordin has officially questioned the government whether central banks can add Bitcoin (BTC) to the country’s foreign currency reserves.
In a formal written investigation submitted to Finance Minister Elizabeth Savanton, Nordin referenced the growing global debate on the international momentum and the role of digital assets in national fiscal strategy.
He pointed to the United States, where several state and federal officials are floating around the idea that Bitcoin will be held as a gold-like strategic reserve asset, particularly in the face of an escalation of geopolitical and economic uncertainty.
Budget-Neutral Strategy
Nordin said that Bitcoin’s financial characteristics are comparable to gold and are already being used as a payment method in many parts of the world and as a hedge against hyperinflation.
He added that Bitcoin also plays an important role for individuals under the authoritarian regime, providing a means of moving and storing value beyond the scope of state control.
Rather than suggesting direct purchases of Bitcoin, Nordin proposed a budget-neutral approach. Rather than liquidating Bitcoin confiscated by Swedish authorities such as customs and police, they retain Bitcoin.
He used the United States as an example. There, federal agencies built up considerable holdings through asset seizures without allocating taxpayer funds to acquire digital currency.
Sveriges Riksbank currently maintains a conservative reserve portfolio consisting primarily of foreign currency and gold. Nordin urged the government to rethink its strategy in light of evolving global financial products.
Government response
Written questions officially registered at 2024/25:997 require a formal response from Finance Minister Svantesson by April 16th.
The government has not yet indicated whether it will take steps to expand Riksbank’s mission to include Bitcoin in its holdings. The Ministry of Finance did not comment on the investigation at the time of publication.
The Swedish move comes amid wider international debate over the inclusion of decentralized digital assets in sovereign financial programs.
El Salvador has already adopted Bitcoin as its fiat currency and incorporates it into its national reserves, but so far, more advanced economies have treated it primarily as a speculative asset.
Nordin’s proposal could encourage Sweden to explore a central environment, allowing for the use of confiscated digital assets as a strategic hedge without having to make a direct economic bet.
