A groundbreaking initiative proposed by the Swiss Federal Chancellery aims to amend the Constitution to require the Swiss National Bank (SNB) to include Bitcoin (BTC) as part of its monetary reserves. This bold proposal, spearheaded by Giw Zanganeh, Vice President of Tether for Energy and Mining, and Yves Bennaïm, founder of the Swiss nonprofit Bitcoin think tank 2B4CH, was officially published on December 31 in the Swiss Federal Gazette.
To become a public referendum, the initiative must gather 100,000 valid signatures.
Backers Push for Constitutional Change
Eight prominent Bitcoin advocates have joined forces to promote this initiative, which seeks to modify Article 99, Paragraph 3 of the Swiss Federal Constitution. The amendment would mandate the SNB to hold a portion of its monetary reserves in Bitcoin, alongside its existing gold holdings.
The proposal, submitted on December 5, represents the culmination of years of meticulous planning. Initially conceived in 2021, 2B4CH postponed the initiative to await a more favorable environment to advance the idea of Bitcoin as a strategic national asset.
With a deadline of June 30, 2026, proponents of the initiative have time to secure the 100,000 signatures—equivalent to roughly 1.12% of Switzerland's 8.92 million residents—necessary to move forward. If successful, the initiative will be presented in a nationwide referendum.
Bitcoin Adoption in Switzerland: Progress and Skepticism
While Bitcoin adoption in Switzerland has seen significant progress, notably in Lugano where approximately 260 businesses accept BTC as payment, the initiative has met with skepticism. Critics question whether Bitcoin’s volatility and nascent adoption globally make it a viable addition to the SNB’s reserves.
However, advocates argue that Bitcoin’s deflationary properties and resilience to geopolitical turmoil make it a strategic hedge against inflation, much like gold. They also point to the increasing interest among retail investors, who are moving away from short-term trading and opting for long-term storage of digital assets. Ethereum and Bitcoin, in particular, are viewed as strategic tools to preserve wealth amid economic uncertainties.
Long-Term Storage and Security: The Rise of Bitcoin Custodianship
For individuals and institutions, securely storing Bitcoin is paramount to preserving its value over time. Innovative solutions like Best Wallet have gained traction, offering a secure yet user-friendly platform for managing digital assets. Designed with an intuitive interface accessible via mobile devices, Best Wallet enhances accessibility while prioritizing security.
Adding to its appeal, Best Wallet recently launched a presale for its native token, BEST, providing users with cost-effective trading options on the platform. This dual focus on safety and convenience positions Best Wallet as an optimal choice for both novice and seasoned investors navigating the evolving digital asset landscape.