{"id":126992,"date":"2025-04-11T11:16:04","date_gmt":"2025-04-11T11:16:04","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126992"},"modified":"2025-04-11T11:16:04","modified_gmt":"2025-04-11T11:16:04","slug":"swedish-mp-proposes-bitcoin-reserve-to-finance-minister","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126992","title":{"rendered":"Swedish MP proposes Bitcoin reserve to finance minister"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA member of Sweden\u2019s parliament proposed adding Bitcoin to the country\u2019s foreign exchange reserves, suggesting increased openness to cryptocurrency adoption in Europe following recent moves by the United States.<br \/>\nSwedish MP Rickard Nordin issued an open letter urging Finance Minister Elisabeth Svantesson to consider adopting Bitcoin (BTC) as a national reserve asset.<br \/>\n\u201cSweden has a tradition of a conservative and carefully managed foreign exchange reserve, mainly consisting of foreign currencies and gold,\u201d Nordin wrote in a letter registered on April 8, adding:<br \/>\n\u201cAt the same time, there is a rapid development in digital assets, and 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.\u201d<br \/>\n\u201cIt is also an important way for freedom fighters to handle payments when under the oppression of authoritarian regimes,\u201d he added.<br \/>\nOpen letter from MP Rickard Nordin. Source: Riksdagen.seRelated: US Bitcoin reserve marks\u2019 real step\u2019 toward global financial integration<br \/>\nThe Swedish proposal echoes a recent move by the United States. In March, President Donald Trump signed an executive order to create a national Bitcoin reserve funded by cryptocurrency seized in criminal investigations rather than purchased through market channels.<br \/>\nThe order authorized the Treasury and Commerce secretaries to develop \u201cbudget-neutral strategies\u201d to buy more Bitcoin for the reserve, provided there were no additional costs to taxpayers.<br \/>\nThe governor of the Czech National Bank has also considered Bitcoin as part of a potential diversification strategy for the country\u2019s foreign reserves, Cointelegraph reported on Jan. 7.<br \/>\nRelated: Bitcoin reserve backlash signals unrealistic industry expectations<br \/>\nEuropean lawmakers silent on Bitcoin legislation amid CBDC push<br \/>\nEuropean lawmakers have remained mostly silent on Bitcoin legislation despite Trump\u2019s historic executive order and Bitcoin\u2019s economic model favoring the early adopters.<br \/>\nThe lack of Bitcoin-related statements may stem from Europe\u2019s focus on the launch of the digital euro, a central bank digital currency (CBDC), James Wo, the founder and CEO of venture capital firm DFG, told Cointelegraph, adding:<br \/>\n\u201cThis highlights the EU\u2019s greater emphasis on the digital euro, though the recent outage in the ECB\u2019s Target 2 (T2) payment system, which caused significant transaction delays, raised concerns about its ability to oversee a digital currency when it struggles with daily operations.\u201d<br \/>\nECB President Christine Lagarde is pushing ahead with the digital euro\u2019s rollout, expected in October. Lagarde has emphasized that the CBDC will coexist with cash and offer privacy protections to address concerns about government overreach.<br \/>\n\u201cThe European Union is looking to launch the digital euro, our central bank digital currency, by October this year,\u201d Lagarde said during a news conference, adding:<br \/>\n\u201cWe are working to ensure that the digital euro coexists with cash, addressing privacy concerns by making it pseudonymous and cash-like in nature.\u201d<br \/>\nSource: CointelegraphThis is in stark contrast to the approach of the US, where Trump has taken a firm stance against CBDCs, prohibiting \u201cthe establishment, issuance, circulation, and use\u201d of a US dollar-based CBDC.<br \/>\nMagazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler\u2019s Digest, Feb. 23 \u2013March. 1<a href=\"https:\/\/cointelegraph.com\/news\/swedish-mp-bitcoin-reserve-finance-minister?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA member of Sweden\u2019s parliament proposed adding Bitcoin to the country\u2019s foreign exchange reserves, suggesting increased openness to cryptocurrency adoption in Europe following recent moves by the United&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126992"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126992"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126992\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126992"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}