Sweden eyes entering the Bitcoin ‘digital arms race’

The proposal has come from two Swedish Democrats, a party that is a key player in backing the Swedish ruling coalition and its minority government.

Two members of Sweden’s parliament, the Riksdag, have proposed that the country investigate establishing a strategic Bitcoin reserve to tackle inflation and diversify its holdings.

They also want the government to promise it won’t change the legislation governing the monetary policy of Sweden’s central bank, to show it doesn’t intend to introduce a digital central bank currency.

In their proposal to the Riksdag on Wednesday, Swedish Democrats Dennis Dioukarev and David Perez said, given other countries like the US are already in the process of creating a reserve, Sweden should “participate in this digital arms race and join the growing group of nations that have accepted and recognized the potential of Bitcoin.”

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