A recent initiative in Switzerland proposes that the Swiss National Bank (SNB) incorporate Bitcoin into its reserves alongside gold. This proposal, backed by ten cryptocurrency advocates, seeks to amend existing laws and requires 100,000 signatures within 18 months to prompt a public referendum.
Historically, the SNB has been skeptical about cryptocurrencies. Chairman Martin Schlegel recently expressed caution, highlighting concerns over their volatility, energy consumption, and associations with illegal activities.
Switzerland's direct democracy allows citizens to influence federal laws through referendums, making this proposal a potential catalyst for national debate on Bitcoin's role in financial reserves. However, the SNB's current stance suggests that significant deliberation would be necessary before any policy shift occurs.