In an ambitious move to strengthen Switzerland's financial independence, local Bitcoin enthusiasts are spearheading a campaign to persuade the Swiss National Bank (SNB) to adopt Bitcoin (BTC) as part of its reserves. Spearheaded by the not-for-profit think tank 2B4CH, this initiative requires rallying support from at least 100,000 Swiss citizens to trigger a referendum for constitutional amendment.
The group, led by Yves Bennaïm and supported by figures like Luzius Meisser of Bitcoin Suisse, argues that incorporating Bitcoin could safeguard Switzerland's neutrality and sovereignty amidst global financial uncertainties. The proposal aims to secure Bitcoin under Article 99-3 of the Swiss Federal Constitution, emphasizing its potential to diversify Switzerland’s reserve assets beyond traditional holdings like German government bonds.
Despite previous setbacks in gathering sufficient public support, the proponents are optimistic. They believe the growing acceptance of Bitcoin in global markets and the recent endorsement of Bitcoin ETFs in the US and Hong Kong could bolster their case. The SNB, however, remains skeptical. In past discussions, SNB Chair Thomas Jordan has expressed reservations about Bitcoin meeting the stringent criteria required for reserve assets.
This renewed push underscores a significant moment in Switzerland's crypto narrative, reflecting a broader trend of increasing institutional interest in cryptocurrencies as viable financial assets.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
