The Bitcoin community in Switzerland is making waves with their latest campaign to convince the Swiss National Bank (SNB) to add Bitcoin to its balance sheet. The nonprofit organization 2B4CH is spearheading this initiative, aiming to hold a national referendum to amend Switzerland’s constitution and require the central bank to hold Bitcoin.
According to Yves Bennaïm, founder and chairman of 2B4CH, this move is crucial for Switzerland to maintain its political neutrality and sovereignty in a rapidly changing global landscape. The advocates must collect 100,000 signatures from Swiss citizens within 18 months to achieve a referendum under Switzerland’s system of direct democracy.
Luzius Meisser, President of the Bitcoin trading platform Bitcoin Suisse, is a strong supporter of the campaign, emphasizing that including Bitcoin in reserves would signify Switzerland’s independence from the European Central Bank. However, SNB Chair Thomas Jordan has expressed reservations, stating that Bitcoin does not meet the reserve criteria.
The campaign has garnered international support, with German politician Joana Cotar also backing the initiative. If successful, Switzerland could become the first Western country to hold Bitcoin reserves, following in the footsteps of El Salvador’s adoption of BTC as legal tender in 2021. Proponents argue that integrating Bitcoin would diversify the SNB’s assets and showcase Switzerland’s commitment to financial innovation.
