- Riksbank Governor Erik Thedeen said Sweden should have “as little bitcoin as possible” in its financial system, calling bitcoin an instrument that’s impossible to value and based on speculation.
- Thedeen’s stance contrasts with Sweden’s generally crypto-friendly approach, as the country has embraced digital assets more than its neighbors.
- While skeptical of bitcoin, the Riksbank is looking into creating its own central bank digital currency and has been piloting an “e-krona” since earlier this year.
Riksbank Governor Erik Thedeen recently said Sweden should have “as little bitcoin as possible” in its financial system, according to a Bloomberg report. He called bitcoin an instrument that’s impossible to value and based on pure speculation.
Thedeen’s Comments on Bitcoin
“It’s an instrument that is impossible to value, and in practice it’s based on pure speculation,” Thedeen told Bloomberg. The Riksbank chief said he would not want to see bitcoin as a major part of Sweden’s financial system.
His stance contrasts with the country’s generally crypto-friendly approach. Sweden has embraced digital assets more than its neighbors.
Riksbank Studying a Digital Currency
While skeptical of bitcoin, the Riksbank is looking into creating its own central bank digital currency (CBDC). It has been conducting a pilot program for an “e-krona” since earlier this year.
The Riksbank is not alone in Europe in weighing a digital currency. The European Central Bank recently approved further investigation into a digital euro.
Conclusion
Thedeen’s comments signal that while Sweden has supported crypto innovation, regulators still have significant concerns. His remarks may temper hopes that the country will take as liberal an approach to bitcoin as some advocates would like.
