Through State Fund, Millions of Swedish savers have been exposed to Bitcoin

Through State Fund Millions of Swedish savers have been exposed to Bitcoin

Through the default government alternative to private savings options on the country’s private pension market, almost five million Swedish savers, are oblivious the fact that they are indirectly exposed to Bitcoin.

Two companies, in which the state pension fund of the Swedish government, AP7 Safa owns shares have invested in Bitcoin. According to local crypto site Trijo.

Firstly, 0.09% of all shares in Tesla are owned by AP7 Såfa: the former is well-known for its high-profile purchase of 48,000 BTC, worth in total around $3 billion at today’s prices. AP7 Såfa’s 5 million clients thus collectively own roughly 43 BTC, worth circa $2.7 million. Calculated per saver, this works out at just $0.59 in Bitcoin (940 satoshis or one hundredth-million of 1 BTC) each.

AP7 Såfa also holds a little over 0.1% of all shares in Square, whose BTC holdings are somewhat more modest than Tesla’s. Calculated per AP7 Såfa client, Trijo reports that each owns roughly $0.12 in BTC (190 satoshis) via the fund’s shareholdings in Square. Trijo notes that both calculations for Tesla and Square are approximate and may be a little out of date — yet they provide an indication of the circuitous and little-known exposure of millions of Swedes to the cryptocurrency.

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