A proposal has been initiated in Switzerland to mandate the Swiss National Bank (SNB) to hold Bitcoin as part of its reserves alongside gold.This initiative, titled "For a Financially Strong, Sovereign, and Responsible Switzerland," was officially registered in the Federal Gazette on December 31, 2024.
The proposal requires the collection of 100,000 signatures within 18 months to qualify for a public referendum. If successful, it would lead to a nationwide vote on amending Article 99 of the Swiss Constitution to include Bitcoin in the SNB's reserve assets.
The SNB has previously expressed skepticism toward cryptocurrencies. In November 2024, Chairman Martin Schlegel described digital currencies like Bitcoin and Ether as niche phenomena, citing concerns over their volatility, energy consumption, and associations with illegal activities.
This development aligns with a growing global interest in incorporating Bitcoin into national reserves. Notably, El Salvador and Bhutan have already made significant investments in Bitcoin. Additionally, discussions are ongoing in countries like the United States, Brazil, and Poland regarding the potential inclusion of Bitcoin in their national reserves.
Swiss Central Bank Faces Call to Hold Bitcoin in Reserves