Renewed Effort to Include Bitcoin in Swiss National Bank Reserves
A group of cryptocurrency enthusiasts in Switzerland is pushing for Bitcoin to be added to the Swiss National Bank (SNB) reserves. Their strategy involves launching a petition for a referendum to amend the country’s constitution, requiring over 100,000 signatures from Swiss citizens. The founder of 2B4CH, Yves Bennaïm, believes that integrating Bitcoin into the SNB’s reserves would secure Switzerland’s sovereignty and neutrality in a changing global environment.
2B4CH Finalizing Preparations for the Necessary Documents
The organizers are in the final stages of preparing the committee and required paperwork to submit to the State Chancellery. However, they face challenges due to the Swiss constitution’s strict guidelines for holding a referendum. At least 100,000 Swiss citizens must sign the petition within 18 months for a referendum to take place, a hurdle that 2B4CH encountered during their initial attempt in October 2021.
- Bennaïm and team are preparing the necessary documents for the campaign.
- The Swiss constitution mandates 100,000 signatures from citizens for a referendum.
- Previous attempt in October 2021 faced challenges in meeting the signature requirement.
Meisser to Discuss Benefits of Adding Bitcoin to Balance Sheet
Luzius Meisser, the president of Bitcoin Suisse, will present a case for integrating Bitcoin into the SNB’s balance sheet during an upcoming meeting on April 26. Meisser, who previously suggested that the SNB allocate 1 billion Swiss francs to Bitcoin monthly, aims to highlight the benefits of this move. Despite earlier resistance from SNB Chair Thomas Jordan, Meisser remains optimistic about the potential advantages of including Bitcoin in the reserves.
- Meisser to advocate for the benefits of Bitcoin integration at a meeting on April 26.
- Previous proposal for monthly Bitcoin allocation not implemented by SNB.
- Meisser asserts that Switzerland missed out on significant gains by not adopting Bitcoin earlier.
Joana Cotar, a German politician and Bitcoin advocate, has expressed support for the initiative, emphasizing the importance of financial independence and Bitcoin’s role in achieving it.
Discussion on Western Europe’s Crypto Adoption
Western Europe has emerged as a leading region for cryptocurrency adoption, with a growing number of daily traders ranging from 1.2 million to 1.5 million individuals. Germany and France are at the forefront of crypto activity in the region, while Austria has seen a remarkable 70% increase in users over the past year. This trend reflects the rising interest and acceptance of cryptocurrencies in Western Europe.
Hot Take: A Push for Financial Independence with Bitcoin
The renewed effort by Swiss enthusiasts to include Bitcoin in the SNB reserves underscores a broader push for financial independence and sovereignty through cryptocurrencies. As the global landscape evolves, the debate over integrating Bitcoin into traditional financial systems will continue to shape the future of monetary policies and reserves.
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