A few years ago, a CFO proposing bitcoin as a cash reserve would likely have received strange looks at the board meeting. That is no longer quite the case.
Over 70 public companies worldwide have now included bitcoin as a primary reserve asset. J.P. Morgan, Goldman Sachs, BlackRock, Microsoft, and Norges Bank Investment Management are some of the names operating in this landscape. This is a pattern, not an exception.
But what does this actually mean for a Swedish small or medium-sized business owner?
Imagine you run a company with a few million kronor in cash. The money is not needed right now, but you do not want to risk it either. The problem is that money in a bank account quietly loses purchasing power every year. Sweden’s money supply has increased by an average of 6.75 percent per year (Riksbanken/SCB, M2 statistics). Add inflation and you begin to understand why a lunch that cost 59 kronor in 2000 costs over 150 kronor today.
Bitcoin has a hard-coded maximum supply of 21 million coins. No more can be created. That is the fundamental difference from kronor, euros, and dollars.
For the Swedish company, holding bitcoin means concretely that part of the cash reserve can potentially grow in value instead of being eroded. It is recorded as an intangible asset and is depreciable, which provides tax advantages that a bank account can never offer (Bokföringsnämnden, IFRIC/IAS 38; Skatteverket).
This is not about betting everything. This is about asking whether it is reasonable to have 100 percent of surplus liquidity in an asset that is guaranteed to decrease in purchasing power over time.
Analysts at Bernstein project that public companies globally may allocate up to $330 billion to bitcoin over the next five years (Bernstein Research, 2025). That inflow volume in itself changes the price dynamics.
The question is no longer whether bitcoin is serious. The question is whether your company can afford not to even examine it.
