Swiss Citizens Urge Switzerland’s National Bank to Adopt Bitcoin

Swiss citizens have launched a campaign to add Bitcoin to the financial reserves of the Swiss National Bank (SNB). The proposal is now in the signature collection phase, with a goal of gathering 100,000 signatures within 18 months. If they reach this target, the initiative will move to a nationwide referendum to amend the Swiss constitution.

Swiss Citizens Advocate for Bitcoin to Be Included in National Reserves

A group of Swiss citizens is proposing to add Bitcoin to Article 99 (Clause 3) of the Swiss constitution, which currently requires a portion of the country’s reserves to be held in gold. Supporters of the idea argue that Bitcoin, like gold, should be treated as a reserve asset.

If approved, the amendment would involve minor changes to the constitution’s wording but could have a major impact on Switzerland’s fiscal policies.

JUST IN: 🇨🇭 Swiss initiative to add #Bitcoin to the constitution has been published in the Federal Gazette for signatures. pic.twitter.com/CNfQVLLVSa

— Bitcoin Magazine (@BitcoinMagazine) December 31, 2024

Giw Zanganeh, Tether’s Vice President of Energy and Mining, announced that the project has been officially published in the Federal Gazette, allowing the signature collection process to start. Once the required number of signatures is gathered, the proposal will be submitted to the Swiss Federal Assembly and then put to a public vote.

Today we officially launched the popular initiative to add #Bitcoin to the @SNB_BNS Swiss National Bank’s balance sheet. https://t.co/Y40yh9pW3X

We will need the full support of our community to gather 100k signatures and make this a national referendum. Details will follow…

— Giw Zanganeh (@gzanganeh) December 31, 2024

Switzerland’s Legacy of Crypto-Friendly Policies

Switzerland has been a global leader in embracing cryptocurrencies. Since 2016, the canton known as Crypto Valley has allowed residents to pay taxes with Bitcoin, creating an ideal environment for blockchain and cryptocurrency businesses.

The country’s forward-thinking approach to cryptocurrencies is one reason why such an initiative is now being proposed. Supporters believe adding Bitcoin to the Swiss National Bank’s (SNB) balance sheet would strengthen Switzerland’s reputation as a hub for financial innovation. However, similar efforts in the past, such as the 2021 proposal by the crypto think tank 2B4CH, failed to gain the necessary support.

Global Momentum Builds for Bitcoin as a Reserve Asset

The push by Swiss citizens for Bitcoin reserves aligns with global trends noted by Franklin Templeton. In its 2025 digital assets outlook, the firm predicts that more countries will integrate Bitcoin into their currency reserves.

“Bitcoin will continue to evolve as a digital store of value as more institutions and countries adopt the asset,” Franklin Templeton stated.

This growing acceptance is evident worldwide. For example, Donald Trump proposed a Bitcoin Reserve Strategy, while German officials and members of Hong Kong’s Legislative Council have recently suggested adding Bitcoin to their currencies. Additionally, the launch of spot Bitcoin ETFs in the U.S. earlier this year has boosted institutional interest.

Challenges Ahead for Bitcoin Reserve Initiative in Switzerland

Despite growing interest, the initiative faces several challenges. Switzerland is known for its neutrality and rarely makes changes to its constitution, and the process is complex and time-consuming.

To move forward, the proposal must gather 100,000 verified signatures within the set time frame, which is a difficult task.

There are also concerns about the stability of cryptocurrency, especially when considering it as a reserve asset on par with stable, widely accepted assets like gold. However, supporters argue that Bitcoin’s scarcity and decentralized nature make it a strong alternative to traditional reserve assets.

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