Swiss Bitcoin proponents are launching a new campaign to persuade the Swiss National Bank to incorporate Bitcoin (BTC) into its reserves through a constitutional referendum. Led by Yves Bennaïm of the non-profit think tank 2B4CH, the initiative aims to bolster Switzerland’s financial sovereignty and neutrality amidst increasing global instability.
In an interview with Swiss news outlet Neue Zürcher Zeitung, Bennaïm revealed that they are finalizing organizational preparations and drafting necessary documents to initiate the referendum process. To meet the referendum’s signature requirement, they must gather 100,000 signatures from Swiss citizens within 18 months, a challenge that hindered their previous attempt in October 2021.
Luzius Meisser, head of Bitcoin Suisse, is collaborating with Bennaïm and emphasized that including Bitcoin in the national reserves would underscore Switzerland’s independence from the European Central Bank and reinforce its neutral stance. Meisser is scheduled to present the benefits of Bitcoin inclusion to the Swiss National Bank on April 26, where he will have three minutes to make his case.
Despite previous rejections by the Swiss National Bank, Meisser remains optimistic about the potential financial gains of adopting Bitcoin as a reserve asset. He believes that delays in embracing Bitcoin may result in higher acquisition costs, as other central banks begin to explore Bitcoin investments.
International support for the initiative has also surfaced, with German politician and Bitcoin advocate Joana Cotar endorsing the campaign. Cotar’s backing underscores the broader significance of Switzerland’s role as a leading center for blockchain and crypto innovation, exemplified by the growth of Crypto Valley and initiatives like the city of Lugano’s acceptance of cryptocurrencies for tax payments.
Overall, the campaign reflects Switzerland’s progressive stance on digital currencies and its commitment to embracing innovative financial technologies.