Sweden Eyes First-Ever National Bitcoin Reserve Amid Geopolitical Tensions

Sweden could become one of the first countries in Europe to establish a national Bitcoin reserve, following a parliamentary motion submitted on October 1 by Dennis Dioukarev and David Perez of the Sweden Democrats (SD).

The motion, titled “A Swedish Bitcoin Strategy” (Motion 2025/26:793), calls on the government to investigate how a strategic Bitcoin reserve could be built and to determine which authority would be best suited to manage it.

A first step for #Bitcoin in Sweden.

On Sept 24, @DennisDioukarev hosted a Bitcoin seminar featuring talks from @satmojoe and @bitcoin_advies.

This marks a key moment as Bitcoin enters Sweden’s political stage and strengthens Nordic cooperation for adoption. pic.twitter.com/DkplLDTj1v

The motion also asks the government to confirm that it does not plan to alter the legal definition of tender or introduce a central bank digital currency under the Riksbank Act.

The lawmakers argue that Sweden’s central bank already maintains a gold reserve and foreign exchange reserves, and Bitcoin could serve as a complementary asset.

They point to developments in the United States, where a national Bitcoin reserve framework was recently advanced through the bipartisan GENIUS Act.

Other countries, including the United Kingdom and Finland, have accumulated Bitcoin through seizures, while the Czech Republic, Latvia, and Poland are reportedly weighing similar strategies.

The Swedish proposal outlines several reasons for adding Bitcoin to state reserves. These include diversification, given that Bitcoin’s value is not tied to the monetary policies of any single country; inflation protection, as the cryptocurrency’s supply is capped at 21 million; and liquidity, with Bitcoin trading continuously and at low transaction costs compared to fiat currencies.

The lawmakers also frame Bitcoin as a signal of digital innovation, describing it as an asset now comparable in scale to silver and larger than companies such as Tesla, Meta, and Amazon.

To avoid additional spending, the motion suggests a budget-neutral approach in which law enforcement agencies transfer seized Bitcoin to the Riksbank or another designated authority instead of auctioning it off.

The debate over a national Bitcoin strategy has been building in Sweden throughout 2025. In April, MP Dennis Dioukarev wrote to Finance Minister Elisabeth Svantesson urging her to consider adding Bitcoin to the country’s reserves, drawing comparisons to gold as a store of value.

Swedish lawmakers propose adding Bitcoin to national reserves, highlighting its role as digital gold and a safeguard against economic uncertainty.#BitcoinReserve #Sweden https://t.co/1nVJdLpotl

MP Rickard Nordin echoed the call in a separate letter dated April 8, arguing that Bitcoin could safeguard financial sovereignty amid growing global uncertainty.

Both lawmakers cited the example of the United States, which has formalized its approach to Bitcoin holdings after years of building reserves through seizures.

Despite these appeals, Swedish authorities have maintained a cautious stance toward the crypto sector. Regulators have taken a strict line on exchanges and miners in recent years, citing tax and compliance risks.

The proposal now before parliament will be reviewed by the Finance Committee on October 15, where lawmakers will debate whether Sweden should join the growing list of nations actively exploring state-level Bitcoin reserves.

If approved, Sweden would position itself among a small but expanding group of governments treating Bitcoin as a strategic financial asset.

Sweden is seeing a growing convergence between crypto adoption and tougher state oversight.

Justice Minister Gunnar Strömmer instructed authorities to step up asset seizures under a new law targeting unexplained wealth, which took effect in November 2024. The measure allows confiscation of cash, crypto, and luxury goods if owners cannot justify their income.

Sweden’s Justice Minister Gunnar Strömmer has ordered local authorities to intensify efforts to seize assets like cryptocurrency.#sweden #cryptohttps://t.co/tdJMk4mIWG

So far, over $8.3 million has been seized. The law has sparked controversy, with critics warning of risks to civil liberties after cases such as a woman losing $137,000 and a Rolex at Gothenburg airport.

At the same time, Swedish firms are increasingly turning to Bitcoin as a treasury asset. Health technology company H100 Group AB disclosed a 4.39 BTC purchase in May, calling it a “long-term” balance sheet strategy.

@H100Group cross-lists on Frankfurt Exchange becoming 44th largest public Bitcoin treasury with 510.28 $BTC accumulated through aggressive July purchases.#Bitcoin #Swedenhttps://t.co/R4EfLBR6tK

In July, digital commerce firm Refine Group AB followed with a $1 million Bitcoin reserve funded through a share issue. Both companies said they plan to expand holdings.

Massachusetts is set to debate the creation of a state-backed Strategic Bitcoin Reserve (SBR), with lawmakers scheduled to hold a hearing on October 7.

Supporters frame the measure as a hedge against inflation and a step toward diversifying assets, while critics cite volatility and regulatory uncertainty.

The Massachusetts Joint Revenue Committee sets hearing on Bitcoin Strategic Reserve bill for Oct 7, examining crypto’s role in state asset strategy. #Bitcoin #Massachusettshttps://t.co/yMIwJw9DUY

If advanced, Massachusetts would be the first Democratic-led state to seriously consider a Bitcoin reserve.

Similar measures have already passed in Texas and Utah, while Wyoming and Michigan are considering bills that would allocate a portion of state funds to Bitcoin.

Momentum is also building abroad. Kazakhstan recently launched its first national crypto reserve, the Alem Crypto Fund, selecting BNB as its initial asset in partnership with Binance.

Kazakhstan launches Alem Crypto Fund as national crypto reserve with BNB selected as first digital asset through Binance partnership.https://t.co/6DDDvWwJJ1

Meanwhile, Brazil is weighing a $19 billion Bitcoin reserve through its RESBit initiative, while the Philippines and Pakistan have outlined their own state-led strategies.

With more than 25 U.S. states and several nations now exploring similar policies.

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