Key Takeaways
- Switzerland joins nations that are considering holding Bitcoin.
- A new proposal requires 100,000 signatures to trigger a national referendum.
- The initiative advocates for integrating Bitcoin into the Swiss National Bank’s reserves.
Switzerland has joined the growing list of countries exploring Bitcoin (BTC) as a national reserve asset.
Lawmakers recently pushed a proposal titled “For a Financially Strong, Sovereign, and Responsible Switzerland,” calling for the Swiss National Bank to hold Bitcoin in its reserves alongside traditional assets like gold.
Swiss Push for Bitcoin Reserves Gains Momentum
The proposal, spearheaded by Yves Bennaïm of 2B4CH and Luzius Meisser of Bitcoin Suisse, needs 100,000 signatures by June 2026 to trigger a national referendum.
The Swiss Federal Chancellery acknowledged the proposal on Dec. 31, a week after National Councillor Dr. Paolo Pamini submitted a formal inquiry to the government.
He asked whether current laws allow the Swiss National Bank to hold Bitcoin and what legislative changes would be needed if they don’t.
“We seek clarity on whether the Swiss National Bank has the legal framework to include Bitcoin as an asset to back the money supply and what adjustments would be needed if it doesn’t.”
Lawmakers argue that holding Bitcoin would strengthen Switzerland’s economic independence and protect it from external pressures like those exerted by the European Central Bank.
Switzerland To Overtake U.S. in Bitcoin Reserve Race?
In recent months, several countries have floated proposals for strategic Bitcoin reserves at both state and national levels.
This wave of interest can be traced back to Donald Trump’s repeated calls for the U.S. to establish a national Bitcoin reserve during his election campaign.
Despite his enthusiasm, Federal Reserve Chair Jerome Powell has stated that current U.S. law prohibits the central bank from holding Bitcoin and that there are no plans to amend this stance.
Elsewhere, nations like Russia and Japan have debated similar measures.
However, policymakers in both countries have cited Bitcoin’s price volatility as a barrier to its adoption as a treasury asset.
While they remain open to the idea in the future, current economic policies prioritize stability over experimentation.
Although the U.S. kickstarted the conversation around Bitcoin reserves, Switzerland and other nations might seize the opportunity to lead this trend.
With growing global interest, the U.S. could find itself watching from the sidelines as others take the first steps.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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