A member of Sweden's parliament has formally proposed adding Bitcoin to the country's foreign exchange reserves. MP Rickard Nordin sent an open letter to Finance Minister Elisabeth Svantesson on April 8, recommending Bitcoin as a complement to Sweden's traditional reserve assets as reported by BTC Peers.

Sweden has historically maintained what Nordin described as a "conservative and carefully managed foreign exchange reserve." The current national reserves primarily consist of foreign currencies and gold, with the proposal suggesting Bitcoin could serve as a valuable addition.

In his letter, Nordin pointed to the growing global significance of digital assets. "Several international players regard bitcoin as a custodian and a hedge against inflation. In many parts of the world, bitcoin is used as a means of payment and as security against rising inflation," he wrote.

The Swedish lawmaker also noted Bitcoin's role in supporting free speech in countries with authoritarian governments. "It is also an important way for freedom fighters to handle payments when under the oppression of authoritarian regimes," Nordin stated in his communication to the Finance Minister.

Regulatory frameworks for cryptocurrencies continue evolving across Europe. Malta's Financial Intelligence Analysis Unit recently fined OKX's European arm 1.1 million euros for Anti-Money Laundering violations, despite the exchange receiving its Markets in Crypto-Assets license through its Malta hub in January 2025.

This proposal comes amid increasing global interest in Bitcoin as a reserve asset. In the United States, multiple states have taken similar steps:

• 26 states have introduced Bitcoin reserve bills
• Minnesota and Alabama filed legislation in early April 2025
• These initiatives follow President Trump's March executive order establishing a US Strategic Bitcoin Reserve

The Czech National Bank has also shown interest in Bitcoin as a reserve asset. According to a January 7 Cointelegraph report, the central bank is exploring Bitcoin as part of a strategy to diversify the country's foreign reserves.

Trump's executive order directed Treasury and Commerce secretaries to develop "budget-neutral strategies" for acquiring more Bitcoin. This approach aims to build the national reserve without adding costs for taxpayers.