The Swiss law firm has launched a proposal to include Bitcoin in Switzerland’s national reserves.
The initiative was proposed by a coalition of ten Swiss crypto advocates, including Giw Zanganeh, vice president of energy and mining at Tether, and Yves Bennaïm, founder of Swiss think tank 2B4CH. It needs 100,000 signatures to advance a constitutional amendment requiring the Swiss National Bank to hold Bitcoin alongside gold as part of its foreign reserves.
The proposal was originally submitted on December 5th and was officially registered in the Federal Gazette of Switzerland on December 31st. This marks the start of an 18-month period to obtain the required signatures.
Since Switzerland has around 8.9 million inhabitants, 1.12% of citizens need to support the petition for it to be successful. If this threshold is reached, the proposal is forwarded to the Swiss Federal Assembly, the country’s bicameral parliament, for consideration.
The initiative is entitled “For a financially healthy, sovereign and responsible Switzerland” and is particularly aimed at Article 99 paragraph 3 of the Swiss Federal Constitution.
The proposed amendment seeks to add the following clause: “The National Bank shall create sufficient foreign reserves from its own income; Some of these reserves consist of gold and Bitcoin.”
In the past, a similar initiative by 2B4CH was postponed in 2021 due to scheduling issues and a lack of widespread public and institutional support. At the time, the idea that nation states should strategically hold Bitcoin was still in its infancy.
This time the preparations appear to be more structured as Bennaïm and his…
