Swedish MP Advocates Bitcoin Reserve Strategy to Bolster National Economy
In a bold move mirroring recent U.S. policy directions, Swedish Parliamentarian Rickard Nordin has proposed integrating Bitcoin into Sweden’s foreign exchange reserves as a hedge against inflation and a catalyst for economic growth. The proposal, outlined in an open letter to Finance Minister Elisabeth Svantesson, highlights Bitcoin’s potential role in modernizing national reserve assets without impacting the current budget.
Swedish MP Proposes Bitcoin Reserve To Enhance Economic Growth
A Swedish parliamentarian, Rickard Nordin, has introduced a budget-neutral plan to include Bitcoin (BTC) in the country’s foreign exchange reserves. The proposal follows the executive order issued by U.S. President Donald Trump to create a Bitcoin reserve. Nordin wrote an open public letter to Finance Minister Elisabeth Svantesson urging her to consider Bitcoin as a national reserve asset, emphasizing its role as an inflation-hedge and the rapid growth of digital assets.
Bitcoin Price Action Focuses on $84,000 and $96,000 Levels
The broader digital currency ecosystem is closely monitoring the Bitcoin (BTC) price trend following a recent bullish shift. On April 9, the price of Bitcoin surged over $81,000 after US President Donald Trump announced a 90-day pause in reciprocal tariffs. Additionally, the alleviation of inflation fears due to the release of Consumer Price Index (CPI) data contributed to the BTC rally. CryptoQuant, a popular onchain data analytics platform, has identified $84,000 and $96,000 as the key support and resistance levels to watch if Bitcoin continues its upward momentum. However, these levels now risk flipping.
Long-term BTC Holders Show Resilience Amid Market Stress
Long-term Bitcoin holders continue to accumulate despite market stress. The sell-side risk ratio, a metric to assess selling likelihood, has only shown a modest uptick for long-term holders, reaching 0.001679 by Apr. 10. This suggests that long-term holders are not engaging in panic selling, unlike short-term sellers who are more reactive to market volatility.
Bitcoin to Smash $250,000 This Year: Cardano Founder Hoskinson Issues Epic BTC Price Prediction
Despite the recent market rollercoaster, Charles Hoskinson remains optimistic about Bitcoin’s future prospects. The Cardano founder has predicted that the price of BTC could hit $250,000 by the end of this year due to Big Tech entering the crypto arena and regulatory progress. In a recent interview with CNBC, Hoskinson stated that Bitcoin, currently priced at $82,705, could be primed for a dramatic surge as early as this year, with technology behemoths like Microsoft and Apple moving into crypto.
U.S. Crypto Holdings Under the Microscope: Trump’s Bitcoin Reserve Report Delay
Over a month has passed since U.S. President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile. The order required federal agencies to report on their digital assets within 30 days, but the public is still awaiting the full disclosure of the government’s crypto holdings. The deadline for this report has come and gone without any further updates from the administration.
