Swedish Lawmakers Propose Strategic Bitcoin Reserve to Hedge Inflation

Two members of Sweden’s parliament have called on the government to explore creating a strategic Bitcoin reserve, arguing it could help safeguard the country against inflation and diversify its national holdings.

The proposal was submitted Wednesday by Swedish Democrats Dennis Dioukarev and David Perez, who also urged the government to guarantee it will not alter the monetary policy framework that governs the country’s central bank. Such a promise, they said, would signal Sweden has no plans to introduce a CBDC.

Pointing to global developments, the lawmakers noted that countries like the United States are already moving toward national Bitcoin reserves. “Sweden should participate in this digital arms race and join the growing group of nations that have accepted and recognized the potential of Bitcoin,” they wrote.

Bitcoin as a Hedge Against Geopolitical Risks

Sweden currently holds no publicly listed Bitcoin reserves, according to data provider Bitbo. However, in November 2024, the country passed legislation allowing authorities to seize luxury assets, including crypto, even if they are not the direct focus of an investigation—potentially paving the way to acquire BTC through confiscations.

Dioukarev and Perez argue that adding Bitcoin alongside Sweden’s existing currency and gold reserves would reduce vulnerability to political and economic shocks. Unlike traditional reserves, they stressed, BTC value is not tied to the policies of individual states or economies, giving it unique hedging qualities.

They also noted that BTC is capped at 21 million coins, making it resistant to inflationary pressures. “Bitcoin is currently the world’s sixth-largest asset, on par with silver and larger than companies such as Tesla, Meta and Amazon,” the proposal stated.

Beyond financial stability, the lawmakers emphasized that holding Bitcoin would send a signal that Sweden embraces innovation, potentially boosting the nation’s standing as a hub for digital finance.

Debate Over CBDCs and Sweden’s Monetary Future

Alongside their reserve proposal, the Swedish Democrats called for legal guarantees that the Riksbank Act, which governs the country’s monetary policy, will not be amended to redefine legal tender. Such a move would effectively rule out the introduction of a CBDC.

Sweden already operates with high levels of digital payments, mobile app Swish is widely used, and its central bank ran a CBDC pilot from 2020 to 2024. The project concluded that introducing an e-krona would ultimately be a political decision.

While proponents of CBDCs argue they improve efficiency and financial inclusion, critics warn they could threaten privacy and increase government overreach.

The Swedish Democrats, who hold significant influence in the country’s minority coalition government, maintain that Bitcoin offers a more transparent and resilient path forward.