Swiss Bitcoin enthusiasts are making a renewed effort to persuade the Swiss National Bank to include Bitcoin in its reserves, aiming to initiate a referendum to amend the country’s constitution. However, garnering over 100,000 signatures within 18 months remains a significant hurdle.
Yves Bennaïm, founder of 2B4CH, emphasizes that holding Bitcoin would safeguard Switzerland’s sovereignty and neutrality amid global uncertainties.
2B4CH is in the process of finalizing committee arrangements and drafting necessary documents for submission to the State Chancellery to kickstart the petition process.
Achieving the required signatures proved difficult during the previous attempt in October 2021, highlighting the substantial task ahead for 2B4CH.
Adding Bitcoin to the central bank’s reserves would signify Switzerland’s independence from the European Central Bank, reinforcing its neutrality, as emphasized by Luzius Meisser, president of Bitcoin Suisse.
Meisser aims to persuade the Swiss National Bank of Bitcoin’s benefits in an upcoming meeting, highlighting potential financial gains and the risk of missing out if other central banks adopt Bitcoin first.
Despite previous efforts, the Swiss National Bank has been cautious, with Chair Thomas Jordan stating that Bitcoin didn’t meet the bank’s requirements for reserve currency.
Recent approvals for Bitcoin exchange-traded funds in the US and Hong Kong offer hope for a shift in the Swiss National Bank’s stance, according to Leon Curti of Digital Asset Solutions.
The initiative has garnered positive feedback, with German politician and Bitcoin advocate Joana Cotar expressing support, contrasting it with her opposition to a European Union-backed digital currency.
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