Sweden to create its Bitcoin reserve

News is coming that Sweden is considering adding Bitcoin to its foreign reserves very soon. Their lawmaker Rickard Nordin said that Bitcoin has gold like currency properties. He added Bitcoin is widely used and is an effective way to combat inflation, just like Gold. 

Rickard added that Sweden could accumulate strategic reserves by holding Bitcoin seized by customs or police, rather than liquidating it, avoiding additional tax burdens. In other words, no new buys would be done by Sweden government which might have pumped the price. Instead, they would be using the stolen bitcoin to create their bitcoin reserve. This also means their budget would not be used to buy bitcoin. 

The proposal requires a formal response from Finance Minister, Svantesson by April 16. Sweden is finally waking up. First, it was gold, now it is the code. 

More and more countries are pouring funds to establish bitcoin reserves all over the world. Inflation is increasing and both gold and bitcoin are being seen as solution. 

US creating its bitcoin reserve has forced many nations to create theirs.