The post Switzerland Considers Adding Bitcoin to National Reserves, Signaling Potential Changes in Financial Strategy appeared on BitcoinEthereumNews.com.
Switzerland proposes adding Bitcoin to its reserves alongside gold, aiming to enhance financial stability. The initiative needs 100,000 signatures by mid-2025 for a public referendum to amend federal law. The move aligns with global trends as nations explore Bitcoin as a strategic asset in their financial systems. Switzerland initiates plans to add Bitcoin to its national reserves, marking a significant shift in cryptocurrency adoption and financial strategy. Switzerland Wants to Join the Bitcoin Reserves Race The proposal, driven by a group of crypto advocates, requires a legislative amendment to mandate this change. To proceed, the initiative must gather 100,000 valid signatures from Swiss citizens by June 30, 2025. If successful, the Swiss Federal Assembly will evaluate the proposal, potentially advancing Switzerland’s position as a leader in cryptocurrency adoption. Switzerland regularly holds public referendums to decide on legislative matters, emphasizing the country’s commitment to direct democracy. “If one country implements a Bitcoin strategic reserve, you can kiss goodbye to your 4 year cycles. I already laid this out in January and assumed an adoption cycle. Think 2002 big tech,” said crypto entrepreneur Tyler Durden. The SNB has historically expressed reservations about cryptocurrencies. However, proponents of the initiative argue that Bitcoin could serve as a hedge against inflation and bolster Switzerland’s reputation as a hub of financial innovation. Currently, the SNB’s reserves are diversified across fiat currencies and approximately 1,040 tons of gold. More Countries Want to Add Bitcoin to Its National Reserves Switzerland’s exploration aligns with a broader global trend of considering Bitcoin as a strategic reserve asset. In the US, discussions around establishing a federal Bitcoin reserve are gaining traction. Projections from VanEck suggest such a reserve could reduce the US national debt by 36% by 2050. Also, major politicians like Senator Cynthia Lummis have advocated for accumulating 1 million…