Switzerland Considers Nationwide Vote to Add Bitcoin to Central Bank Reserves_ 🇨🇭

Switzerland is considering a nationwide vote to decide whether the Swiss National Bank (SNB) should hold Bitcoin in its reserves 🤔. This initiative, led by Bitcoin advocates and think tank 2B4CH, aims to amend the Swiss Federal Constitution to include Bitcoin, alongside gold, as a reserve asset 💰.

The Proposal's Core Idea 📝

The proposal's core idea is to strengthen Switzerland's monetary sovereignty and neutrality by adding Bitcoin to its reserves 🚀. Supporters argue that this move would:

Enhance financial sovereignty: By holding Bitcoin, Switzerland would reduce its dependence on other countries' monetary policies 🌎.

Increase asset diversity: Adding Bitcoin to the reserves would provide a hedge against inflation and market volatility 📊.

However, Opponents Raise Concerns 🚫

However, opponents, including SNB Chairman Thomas Jordan, raise concerns about:

Bitcoin's immaturity_: Its payment system is still developing, and its energy consumption for mining is a significant issue 💡.

Security risks_: Bitcoin's decentralized nature makes it vulnerable to hacking and other security threats 🚨.

To Put This Initiative to a National Vote🗳️

To put this initiative to a national vote, supporters need to collect 100,000 signatures from Swiss citizens within 18 months 🕒. With Switzerland's population of approximately 8.9 million, this requires about 1.12% of the population to sign the petition 📝.

Other Countries Are Also Exploring This Idea_ 🌎

Other countries, such as the United States, Brazil, and Poland, are also exploring the idea of holding Bitcoin in their reserves 🤝. If Switzerland's initiative succeeds, it could set off a global trend 🌪️.

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