Sweden Discusses To Consider Bitcoin in Foreign Reserves
Sweden’s Member of Parliament Rickard Nordin wrote a letter to Minister of Finance Elisabeth Svantesson to consider including Bitcoin in the foreign reserves. Nordin proposed funding BTC in reserves through seized cryptocurrencies by the police and customs authorities.
The letter also addresses the Finance Minister to consider normalizing Bitcoin in the US and UAE, among other nations. The MP compared Bitcoin to gold explaining that BTC will come in handy during economic uncertainties. “Its monetary properties are comparable to those of gold. Especially in a time of increasing geopolitical and economic uncertainty,” he wrote.
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In addition, Nordin highlighted the importance of Bitcoin as a payment option in Sweden if rouge regimes come into power. “It is also an important way for freedom fighters to handle payments when under the oppression of authoritarian regimes,” he wrote. Bitcoin is the only digital asset that cannot be controlled by the government and highly influential people.
It is an independent digital asset running on blockchain technology having nothing to do with the government and centralization. It is completely decentralized and no entity or government can control or contain it. “Have the Minister and the Government considered the possibility of giving the Riksbank the opportunity to include bitcoin in Sweden’s foreign exchange reserves, and will the Minister and the Government act to give the Riksbank such an opportunity?” Nordin summed it up in his letter.
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Will Sweden Include Bitcoin in Foreign Reserves?
Svantesson is yet to respond to the letter submitted by Nordin to decide the next course of action. Also, European Central Bank (ECB) President Christine Lagarde said in early January that she is confident Bitcoin will not be a part of any central banks and foreign reserves, which Sweden is included. Therefore, the chances of allowing BTC to become a part of foreign reserves could be doubtful.
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Sweden Discusses To Consider Bitcoin in Foreign Reserves
Sweden’s Member of Parliament Rickard Nordin wrote a letter to Minister of Finance Elisabeth Svantesson to consider including Bitcoin in the foreign reserves. Nordin proposed funding BTC in reserves through seized cryptocurrencies by the police and customs authorities.
The letter also addresses the Finance Minister to consider normalizing Bitcoin in the US and UAE, among other nations. The MP compared Bitcoin to gold explaining that BTC will come in handy during economic uncertainties. “Its monetary properties are comparable to those of gold. Especially in a time of increasing geopolitical and economic uncertainty,” he wrote.
Also Read: Nike (NKE) Stock Down 69 From ATH%: Buy The Dip?
In addition, Nordin highlighted the importance of Bitcoin as a payment option in Sweden if rouge regimes come into power. “It is also an important way for freedom fighters to handle payments when under the oppression of authoritarian regimes,” he wrote. Bitcoin is the only digital asset that cannot be controlled by the government and highly influential people.
It is an independent digital asset running on blockchain technology having nothing to do with the government and centralization. It is completely decentralized and no entity or government can control or contain it. “Have the Minister and the Government considered the possibility of giving the Riksbank the opportunity to include bitcoin in Sweden’s foreign exchange reserves, and will the Minister and the Government act to give the Riksbank such an opportunity?” Nordin summed it up in his letter.
Also Read: Dogecoin ETF Race Heats Up: Can It Push DOGE Back to $0.4?
Will Sweden Include Bitcoin in Foreign Reserves?
Svantesson is yet to respond to the letter submitted by Nordin to decide the next course of action. Also, European Central Bank (ECB) President Christine Lagarde said in early January that she is confident Bitcoin will not be a part of any central banks and foreign reserves, which Sweden is included. Therefore, the chances of allowing BTC to become a part of foreign reserves could be doubtful.
Also Read: Currency: US Dollar Falls to 101 Level, Bleeds 6.4% YTD
Read More
Bitcoin Rises as BlackRock, Fidelity, Ark, Bitwise and Other Whales Continue BTC Accumulation Spree