Swiss Campaign to Include Bitcoin in Central Bank Reserves Fails
- The campaign aimed to gather 100,000 signatures for a national referendum to amend the Swiss Constitution.
- Only about half of the required signatures were collected within the designated 18-month period.
- The proposal sought to have the Swiss National Bank (SNB) hold bitcoin alongside gold and foreign currency reserves.
- Supporters argued that bitcoin could serve as a neutral reserve asset and hedge against dollar and euro exposure.
- The SNB previously rejected this idea due to concerns over bitcoin’s liquidity and volatility.
The initiative’s failure reflects challenges in integrating bitcoin into traditional monetary frameworks, particularly given the SNB’s existing foreign-currency reserves, which are primarily in dollars and euros.
Ultimately, the campaign’s inability to secure enough support highlights ongoing debates regarding cryptocurrency’s role in national finance systems, with only about half of the necessary signatures collected for a referendum. (Source)
