Millions of Swedish savers have exposure to Bitcoin via state pension fund

by Gordon James

Nearly five million Swedish savers have received bitcoin (BTC) indirectly, mostly unknowingly, through the government alternative to private savings on the country’s private pension market.

According to local crypto website Trijo News, at least two companies in which the Swedish state pension fund AP7 Såfa has shares have invested in bitcoin.

First, 0.09% of all Tesla shares are owned by AP7 Såfa : The former is known for its notorious purchase of 48,000 BTC with a total value of about $3 billion at the current exchange rate. So, AP7 Såfa’s 5 million customers collectively own about 43 BTC worth about $2.7 million. That amounts to a savior for as little as $0.59 in bitcoins (940 satoshi or one hundredth of a million of 1 BTC) each.

AP7 Såfa also owns just over 0.1% of all Square shares, whose BTC holdings are slightly smaller than Tesla’s. Calculated per AP7 Såfa customer, Trijo says each owns about $0.12 in BTC (190 satoshi) via fund shares on the exchange. Triho notes that the calculations for Tesla and Square are approximate and perhaps somewhat outdated – but they give an idea of the schematic and little-known effects of cryptocurrencies on millions of Swedes.

As mentioned earlier, Norwegian rescuers find themselves in a situation similar to that of their Scandinavian neighbors. Recent research has shown that the Pension Fund of the Norwegian Government – also known as the Petroleum Fund and the largest sovereign wealth fund – owns almost 600 BTC through its investments.

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