Without knowing it – millions of Swedes are already investing in Bitcoin
Sweden’s sovereign wealth fund holds stakes in Tesla and Square, which means that a large part of the population is investing indirectly in the crypto market leader.
Almost 5 million Swedes invest, without knowing it, indirectly in Bitcoin (BTC).
Like the Swedish news portal Trijo News reported, this is due to the fact that the Swedish sovereign wealth fund AP7 Såfa invests in companies that in turn have bought Bitcoin. Explanation: As part of the state pension scheme, all Swedes are obliged to pay a portion of their pension contributions into investment funds, whereby the State fund AP7 Såfa is the default variant.
The indirect Bitcoin investment of the “Sweden Fund” can now be explained by the fact that it holds a 0.09% stake in Tesla. The innovative automaker is known to have made a massive Bitcoin investment of 48,000 BTC last year, which is now equivalent to around $ 3 billion. According to this, the Swedish savers hold about 43 BTC at a value of 2.7 million US dollars. This means that $ 0.59 is invested in Bitcoin per saver.
In addition, the AP7 Såfa owns 0.1% of the shares in the American payment service provider Square, which also relies on Bitcoin. In turn, this works out to $ 0.12 per saver for every Swedish investor. Trijo points out that these calculations for Tesla and Square are only rough, but nonetheless it can be seen from the fact that many Swedes are already investing in cryptocurrencies, at least indirectly.
Their Norwegian neighbors are also doing the same thing, because as recently reported, the sovereign wealth fund of Norway, which is also the largest state fund in the world, also owns almost 600 BTC through its corporate investments.