Connect with us

Hi, what are you looking for?

Bitcoin
Bitcoin

Cryptocurrency

A proposal from Switzerland encourages the national bank to adopt Bitcoin reserves

A new effort in Switzerland seeks to integrate Bitcoin into the country’s financial structure by proposing that the Swiss National Bank keep Bitcoin as part of its monetary reserves. The public must support the idea to trigger a national referendum.

Switzerland is considering amending its constitution to require the SNB to include Bitcoin in its monetary reserves. A group of Bitcoin supporters officially filed the proposal on December 31, marking a significant step toward integrating bitcoin into the country’s financial policies.

To move this initiative to a public referendum, the group needs to collect 100,000 valid signatures by June 30, 2026. This represents around 1.12% of Switzerland’s population of 8.92 million.

The proposed amendment asks that Bitcoin, along with gold, be included in the Swiss National Bank’s monetary reserves. Advocates believe that this step will ensure financial stability and strengthen Switzerland’s position as a forward-thinking, sovereign financial hub.

Bitcoin acceptance in Lugano is already growing, with over 260 establishments taking the cryptocurrency as payment. However, the Swiss National Bank has highlighted worries about Bitcoin’s energy consumption and feasibility as a payment system.

If successful, this idea might establish Switzerland as a global leader in incorporating cryptocurrencies into national monetary systems. For the time being, the campaign relies on public assistance to make this audacious goal a reality.

author avatar
Sagar Saini
A dedicated freelance blogger with a strong passion for finance and business, With a keen interest in the world of cryptocurrency.
Advertisement

You May Also Like

Exclusive

A look into the meme coin that is ruling social media and Solana. In crypto, memes don’t just stay memes anymore. There is money...

Cryptocurrency

Cryptocurrency exchange Bitget faced an unexpected disruption on April 20 as trading on the futures contract VOXEL/USDT exploded. According to their statement, within 30...

Business

A Japanese company called Metaplanet bought 28M more Bitcoin to make its total bitcoin holdings 4,855 BTC. The company aims to acquire 21,000 BTC by...

Finance

Big names in crypto like Circle and BitGo plan to file applications for banking charters in the United States, similar to the WSJ. The...

polkadot
Polkadot (DOT) $ 4.26 0.14%
bitcoin
Bitcoin (BTC) $ 94,614.00 1.62%
ethereum
Ethereum (ETH) $ 1,793.26 1.52%
cardano
Cardano (ADA) $ 0.715169 0.74%
xrp
XRP (XRP) $ 2.19 0.22%
stellar
Stellar (XLM) $ 0.287982 4.50%
litecoin
Litecoin (LTC) $ 86.98 3.57%