Bitcoin is no longer discussed only in niche financial circles. The issue has made its way into Parliament, and more is happening than most people realise.
At Vostroblock, we had the opportunity to take part when Parliament received education on bitcoin. It was one of the clearest signs we have seen that political understanding of what bitcoin actually is is genuinely changing.
The Sweden Democrats’ Dennis Dioukarev and David Perez have submitted a motion proposing that Sweden build up a strategic bitcoin reserve alongside gold and foreign currency (Parliament, motion 2024/25:3162). The proposal is budget-neutral and is based on confiscated bitcoins being transferred to the Riksbank. The argument is that bitcoin resembles gold in several respects: limited supply, difficult to counterfeit, and a function as a store of value.
The Centre Party’s Rickard Nordin is pursuing a similar line and proposes that the Riksbank investigate whether bitcoin should be included in the foreign exchange reserve (Parliament, written question 2024/25).
The Government is cautious. Minister Niklas Wykman notes that it is for the Riksbank to decide the composition of the foreign exchange reserve. Formally correct, but no active ambition is yet evident.
However, Sweden actually has excellent conditions for bitcoin—specifically for mining. We have access to clean and inexpensive electricity from hydropower and wind power. We have a stable power grid. We have a colder climate that keeps cooling costs down. And we have a stable legal framework. It is a combination that few countries in the world can match.
In addition, in northern Sweden’s electricity areas, SE1 and SE2, there are significant energy surpluses for large parts of the year that otherwise risk being lost or not fully utilised. There, bitcoin mining can play an important role by converting surplus electricity into economic value, directly where the energy is produced.
