Swedish MPs Propose Motion for National Bitcoin Reserve
Two MPs from Sweden's Riksdag Party proposed a motion for establishing a Bitcoin reserve. The motion suggests:
- Creating a Bitcoin reserve using seized cryptocurrency funds.
- No changes to the legal tender definition in the Riksbank Act, avoiding the introduction of a central bank digital currency (CBDC) like the "e-krona".
The proposal references the US Bitcoin reserve developed under the GENIUS Act and positions Bitcoin as a safeguard against economic instability and as "digital gold".
Globally, countries including Kyrgyzstan and the Philippines are moving towards state crypto reserves. The CfC St. Moritz conference in Switzerland established a Bitcoin reserve with Sygnum Bank. Additionally, Coinbase reported an all-time-high reserve totaling $112 billion.