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Bitcoin Enthusiasts’ Efforts in Switzerland
A group of Bitcoin enthusiasts in Switzerland is actively working to convince the Swiss National Bank (SNB) to add Bitcoin to its reserves.
Initiating a Referendum
The enthusiasts plan to launch a petition to initiate a referendum aimed at amending the Swiss constitution. This process will require gathering over 100,000 signatures from Swiss citizens.
2B4CH Leading the Campaign
2B4CH, a non-profit think tank, is leading the campaign. Yves Bennaïm, the founder and chairman, believes that including Bitcoin in the SNB’s reserves would protect Switzerland’s sovereignty and neutrality in the face of global uncertainties.
Preparations Underway
2B4CH is finalizing the necessary documents and organizational preparations for the petition and committee to be submitted to the State Chancellery.
Challenges Faced
However, the process faces challenges as the Swiss constitution mandates gathering 100,000 signatures within 18 months for a referendum to be held. This requirement posed difficulties during the group’s previous attempt in October 2021.
Potential Benefits
Luzius Meisser, president of Bitcoin Suisse, believes that adding Bitcoin to the SNB’s reserves would enhance Switzerland’s independence from the European Central Bank and bolster its neutrality.
Advocating for Bitcoin Inclusion
Meisser will advocate for adding Bitcoin to the SNB’s balance sheet during an upcoming meeting. He argues that delaying the decision could put Switzerland at a disadvantage as other central banks acquire Bitcoin at higher prices.
Support for the Initiative
The initiative has garnered support from Joana Cotar, a German politician and Bitcoin activist, who opposes a European Union-backed digital currency.
Global Crypto Adoption in Western Europe
Western Europe has seen significant crypto adoption, with countries like Germany, France, and Austria leading the way in daily trading activities.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
