Switzerland has initiated discussions on establishing national Bitcoin reserves, following its longstanding practice of holding substantial gold reserves valued at $27 billion.
A new proposal published by the Swiss Federal Chancellery calls for the Swiss National Bank (SNB) to include Bitcoin alongside gold as part of its reserve assets.
Switzerland Wants to Join the Bitcoin Reserves Race
The proposal, driven by a group of crypto advocates, requires a legislative amendment to mandate this change. To proceed, the initiative must gather 100,000 valid signatures from Swiss citizens by June 30, 2025.
If successful, the Swiss Federal Assembly will evaluate the proposal, potentially advancing Switzerland’s position as a leader in cryptocurrency adoption.
Switzerland regularly holds public referendums to decide on legislative matters, emphasizing the country’s commitment to direct democracy.
“If one country implements a Bitcoin strategic reserve, you can kiss goodbye to your 4 year cycles. I already laid this out in January and assumed an adoption cycle. Think 2002 big tech,” said crypto entrepreneur Tyler Durden.
The SNB has historically expressed reservations about cryptocurrencies. However, proponents of the initiative argue that Bitcoin could serve as a hedge against inflation and bolster Switzerland’s reputation as a hub of financial innovation.
Currently, the SNB’s reserves are diversified across fiat currencies and approximately 1,040 tons of gold.
More Countries Want to Add Bitcoin to Its National Reserves
Switzerland’s exploration aligns with a broader global trend of considering Bitcoin as a strategic reserve asset. In the US,
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Author: Mohammad Shahid
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