On October 1, representatives of the Sweden Democrats party, Dennis Dyukarev and David Perez, submitted a proposal to parliament to create a national bitcoin reserve.
The document, titled “Swedish Bitcoin Strategy” (Motion 2025/26:793), calls on the government to study how a strategic reserve in BTC can be formed, and to determine which agency should be responsible for its storage and management.
The authors also propose to stipulate that the country does not intend to change the definition of legal tender or introduce a central bank digital currency (CBDC) under the Riksbank Act (the Swedish central bank).
In Sweden, there is a proposal to equate bitcoin to gold — as a savings asset
The authors of the initiative believe that bitcoin can complement the existing reserves of the Riksbank, which include gold and foreign currency. In their opinion, cryptocurrency can serve as a strategic asset — on par with precious metals.
In the explanatory note, they refer to the US, where the GENIUS Act was recently introduced, providing for the creation of a federal bitcoin reserve. Similar ideas are being discussed in Europe. For example, the UK and Finland have already received BTC through confiscations, while the Czech Republic, Latvia, and Poland are exploring the possibility of creating their own strategic reserves.
The parliamentarians’ proposal outlines several reasons why Sweden should follow the same path:
- Diversification — bitcoin is not dependent on the monetary policy of individual countries;
- Protection against inflation — the issuance of BTC is limited to 21 million coins;
- Liquidity — cryptocurrency can be traded around the clock, and transaction costs are lower than those of traditional currencies.
In the document, bitcoin is described not only as a financial instrument but also as an indicator of technological development. By market capitalization, it has already caught up with silver and surpassed companies like Tesla, Meta and Amazon.
The authors propose to do without new budget expenditures. Instead of allocating funds, they want bitcoins seized during investigations to be transferred to the Riksbank or another responsible institution. Currently, such assets are sold at auctions, but the initiators consider this approach outdated.
The discussion of bitcoin as a state reserve in Sweden began back in the spring of 2025. In April, MP Dennis Dyukarev had already approached Finance Minister Elisabeth Svantesson with a proposal to consider BTC as a long-term storage asset — on par with gold.
The issue of a national bitcoin reserve will be brought up for discussion in parliament
The initiative was also supported by MP Rickard Nordin. In a letter dated April 8, he wrote that bitcoin can strengthen the country’s financial independence amid growing geopolitical tensions.
Both parliamentarians cited the US as an example. There, in recent years, the authorities have not only accumulated significant volumes of BTC through confiscations, but have also developed an official approach to handling such assets.
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Sweden takes a cautious approach to the crypto market. Exchanges and miners operate under strict supervision, with the main agenda being taxes and compliance.
The issue has been referred to the Finance Committee. Hearings are scheduled for October 15. MPs will decide whether to consider bitcoin as a strategic instrument at the state level.
If the initiative is supported, the country will find itself among a select group of jurisdictions where BTC is seen as a long-term reserve asset, not just an object of speculation.
The new confiscation law strengthens control over crypto assets
Interest in cryptocurrencies is growing in Sweden, but at the same time, state control is tightening.
Justice Minister Gunnar Strömmer has demanded that the police more actively use the law on confiscation of “unexplained property.” It has been in effect since November 2024 and gives the right to seize cash, cryptocurrency, and luxury items if the owner cannot prove the legality of their origin.
Since the beginning of the year, assets worth more than $8.3 million have been seized. The law has already sparked controversy: human rights activists believe it threatens civil rights. The media discussed a case at Gothenburg airport where a woman had $137,000 and a Rolex watch confiscated.
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Against this backdrop, more and more Swedish companies are considering bitcoin as a tool to protect capital. In May, H100 Group AB acquired 4.39 BTC and announced it as a “long-term balance sheet management strategy.”
In July, Refine Group AB, a digital commerce company, followed suit — it formed a bitcoin reserve of $1 million through a share placement. Both companies stated that they plan to increase the share of BTC in their assets.
States and countries discuss creating bitcoin reserves as protection against inflation
In Massachusetts, hearings are being prepared on the creation of a state Strategic Bitcoin Reserve (SBR). The meeting is scheduled for October 7.
Supporters of the initiative call it insurance against inflation and a way to diversify assets. Opponents point to bitcoin’s volatility and regulatory uncertainty. If the bill moves forward, Massachusetts will become the first Democrat-led state to seriously consider such a step.
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Similar initiatives have already received support in Texas and Utah. In Wyoming and Michigan, discussions are underway about allocating part of the budget to bitcoin.
The topic is gaining momentum beyond the US as well. In Kazakhstan, the first national crypto reserve — Alem Crypto Fund — was recently launched. Its base asset is the BNB token, and its partner is the Binance exchange.
In Brazil, the RESBit plan is being discussed, which involves creating a bitcoin reserve of $19 billion. Similar strategies have already been announced by the authorities of the Philippines and Pakistan.
In total, more than 25 US states and several countries around the world are studying such initiatives.
