Key Takeaways:
- A proposal to mandate the Swiss National Bank (SNB) to hold Bitcoin in its reserves has been officially launched, with a June 2026 deadline to gather 100,000 signatures for a referendum.
- The initiative is led by Yves Bennaïm of 2B4CH, supported by Bitcoin advocates, and seeks to amend Switzerland’s Federal Constitution to include Bitcoin alongside gold in monetary reserves.
- Switzerland’s progressive Bitcoin ecosystem, exemplified by Lugano’s adoption and global interest in similar policies, sets the stage for potential nationwide adoption despite challenges from traditional financial perspectives.
A groundbreaking proposal to mandate the Swiss National Bank (SNB) to include Bitcoin in its monetary reserves has officially been launched, setting the stage for a possible constitutional amendment.
Registered on December 31, 2024, the initiative requires 100,000 signatures from Switzerland’s population by June 30, 2026, to trigger a national referendum.
Switzerland 🇨🇭 is making history. The initiative to enshrine #Bitcoin into the constitution has officially reached the Feuille fédérale and is now under review. A future where Bitcoin becomes a strategic reserve for Switzerland could soon become reality. pic.twitter.com/6sgr5Au41o
— Michael Saylor ⚡ Founder of MicroStrategy (Parody) (@Saylorsatsire) December 31, 2024
If approved, it would amend Article 99 Paragraph 3 of the Federal Constitution to require SNB reserves to include Bitcoin alongside gold.
The proposal, led by Yves Bennaïm of the nonprofit think tank 2B4CH and Tether’s Giw Zanganeh, represents a collaborative effort by prominent Bitcoin advocates.
Delayed since 2021, the initiative was submitted following months of preparation, with supporters citing improved timing and readiness.
Switzerland, already a hub for financial innovation, boasts significant Bitcoin adoption in regions like Lugano, where over 260 merchants accept the cryptocurrency.
While Bitcoin’s energy consumption and payment system viability remain concerns, the proposal aligns with global trends, as countries like the U.S., Brazil, and Poland explore similar measures.
If the initiative succeeds, it could solidify Switzerland’s position as a leader in Bitcoin adoption, marking a significant step forward for cryptocurrency integration at the national level.
The initiative now embarks on a critical period to gather public support.
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