Nearly 5 million Swedish savers have, largely without knowledge, indirect exposure to Bitcoin ( BTC ) via the government's default alternative to private savings options in the country's private pension market.
According to local crypto site Trijo News, at least two companies in which Swedish state pension fund AP7 Såfa holds shares have invested in Bitcoin.
First, 0.09% of all Tesla shares belong to AP7 Såfa: the former is well known for its high-profile purchase of 48,000 BTC worth about $3 billion at today's prices. Thus, AP7 Såfa's 5 million customers collectively own about 43 BTC worth about $2.7 million. Per saver, this amounts to just $0.59 in Bitcoins (940 satoshi or one hundredth of 1 BTC) each.
AP7 Såfa also holds just over 0.1% of all shares in Square, whose BTC holdings are slightly more modest than Tesla's. On a per-customer basis, AP7 Såfa's Trijo reports that they each hold about $0.12 in BTC (190 satoshi) through the fund's holdings in Square. Trijo notes that both calculations for Tesla and Square are approximate and may be slightly off - but they do provide clues to the circular and little-known exposure of millions of Swedes to cryptocurrency.
As we reported earlier, Norwegian savers are in a similar position to their Scandinavian neighbors. Recent research revealed that Norway's government pension fund - otherwise known as the Oil Fund and largest sovereign wealth fund - holds nearly 600 BTC through its investments.
