Sweden Doubles Down on Anti-Bitcoin Stance, Central Bank Chief Warns Against 'Pure Speculation'

Sweden's central bank governor wants as little bitcoin as possible in the country's financial system. He says bitcoin is "impossible to value" and "based on pure speculation".

The governor cited crypto exchanges collapsing and people losing money as reasons to warn against bitcoin.

In 2022, Sweden called for an EU ban on crypto mining due to energy consumption concerns.

In April 2023, Sweden removed tax incentives for data centers including bitcoin mining, threatening a 6,000% increase in energy taxes.

The governor warns people against believing there is "free money to be made" from bitcoin, noting the value has collapsed in the past.