A group of bitcoin advocates in Switzerland has launched a campaign to convince the Swiss National Bank (SNB) to add bitcoin to its balance sheet.
Non-profit organization 2B4CH aims to hold a national referendum to amend Switzerland's constitution and require the central bank to own bitcoin.
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BREAKING: Bitcoiners will launch a petition for the Swiss National Bank to buy twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin
Little by little and then suddenly pic.twitter.com/8AkF8YrP86
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1782338905146024166?ref_src=twsrc%5Etfw”>April 22, 2024
According to the founder and president of 2B4CH twitter.com/ZLOK”>Yves BennaimThis measure would help Switzerland maintain its political neutrality and sovereignty in an uncertain global environment.
“We are completing the organizational preparations of the committee and preparing the documents that must be submitted to the State Chancellery to start the process,” said Bennaïm.
To achieve a referendum under the Swiss system of direct democracy, advocates must collect 100,000 signatures from Swiss citizens within 18 months. With a population of around 8.77 million, approximately 1.15% of the population needs to sign the petition. This signature requirement posed challenges when 2B4CH attempted to hold a similar referendum in 2021.
twitter.com/Luzius”>Luzius Meisser, president of the bitcoin Suisse trading platform, supports the new campaign. “By including bitcoin in its reserves, Switzerland would signal its independence from the European Central Bank. Such a step would reinforce our neutrality,” Meisser said.
Meisser believes bitcoin adoption could generate billions in Switzerland; He previously advised the SNB to allocate more than $1 billion monthly to btc instead of German bonds. However, SNB Chairman Thomas Jordan has so far resisted, claiming that bitcoin does not meet the reserve criteria.
The campaign has garnered support from bitcoin advocates around the world, including German politician. twitter.com/JoanaCotar”>Joana Cotar
If successful, the move could make Switzerland the first country in the West to hold bitcoin reserves. This reflects the groundbreaking adoption of btc as legal tender in El Salvador in 2021. Proponents argue that bitcoin integration would diversify the SNB's assets and signal Switzerland's commitment to financial innovation.
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