- Swedish lawmaker Dennis Dioukarev proposes building a national Bitcoin reserve using confiscated assets, following similar models in other countries.
- This marks the second Swedish MP in recent months to push for national Bitcoin adoption, reflecting a growing trend across Europe.
- The proposals contrast with the European Central Bank’s stance, as President Christine Lagarde has dismissed Bitcoin as unsuitable for central bank reserves.
Swedish MP Dennis Dioukarev has formally proposed establishing a national Bitcoin reserve using confiscated assets, becoming the second Swedish lawmaker in recent weeks to advocate for Bitcoin adoption at the governmental level. In his Monday submission to Finance Minister Elisabeth Svantesson, Dioukarev referenced similar strategies in other nations, particularly pointing to the United States government’s recent initiatives.
“This is a trend seen in many countries,” wrote Dioukarev, who represents the Sweden Democrats in the Riksdag. “Is this something that the minister and the government are considering?” His proposal specifically suggests converting seized digital assets into a strategic Bitcoin reserve.
The initiative closely follows fellow MP Rickard Nordin’s April 8 appeal to the same minister, urging Sweden to reconsider its approach to national reserves. Nordin emphasized Bitcoin’s global importance, noting: “Several international players regard Bitcoin as a custodian and a hedge against inflation. It is also an important way for freedom fighters to handle payments when under the oppression of authoritarian regimes.”
These dual proposals signal a shift in European political attitudes toward cryptocurrency, particularly as nations begin to recognize Bitcoin’s potential geopolitical significance.
Global Bitcoin Reserve Trends
The Swedish proposals mirror recent developments in the United States, where President Donald Trump signed an executive order establishing a national Bitcoin reserve. Rather than purchasing cryptocurrency directly, the U.S. model retains Bitcoin and other digital assets seized through law enforcement actions.
The American strategy also establishes a separate Digital Asset Stockpile for non-Bitcoin cryptocurrencies obtained through legal proceedings, according to White House AI and Crypto Czar David Sacks.
European Perspectives Diverge
Other European officials have shown interest in Bitcoin adoption. Czech National Bank Governor Aleš Michl has suggested adding Bitcoin to the nation’s $7 billion foreign reserves as a “diversification” tool. Meanwhile, Italy has seen movement in both public and private sectors, with Intesa Sanpaolo, the country’s largest banking group, purchasing 11 Bitcoins for approximately $1 million in January.
These progressive views, however, clash with the broader European Central Bank position. ECB President Christine Lagarde has explicitly dismissed Bitcoin as “unsafe” and expressed confidence that “Bitcoins will not enter the reserves of any of the central banks.”
Currently, Bitcoin trades at $85,586.92, up 1.5% in the last 24 hours according to CoinGecko data, but remains 21.3% below its January 20 all-time high of $108,786.
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