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A Swiss advocacy group has proposed a constitutional amendment to allow Bitcoin (BTC) as part of Switzerland’s national reserves. The Swiss Federal Chancellery has initiated efforts to gather public support for the Bitcoin reserve, aiming to secure 100,000 signatures by June 2026.
Inside Swiss Bitcoin Reserve Proposal
This proposal seeks to modify Article 99, paragraph 3 of the Swiss Federal Constitution, empowering the Swiss National Bank (SNB) to allocate part of its reserves to Bitcoin, alongside gold. The amendment would also formalize the establishment of a “National Bank” responsible for building and maintaining adequate monetary reserves using its revenues.
Giw Zanganeh, Vice President of Energy and Mining at Tether, and Yves Bennaïm, founder of 2B4CH, are among the ten advocates driving this initiative. They emphasize the need for Switzerland to adopt BTC, arguing it could enhance the country’s financial sovereignty and resilience.
“The aim is to create a financially sound, sovereign, and responsible Switzerland,” the Swiss Federal Chancellery stated on its Fedlex website. The proposal is now part of the Crypto Asset Initiative process, which confirms its compliance with legal standards under Article 69, paragraph 2 of the Federal Act on Political Rights of December 1976.
INTEL: Swiss citizens propose adding $BTC to the Swiss National Bank’s reserves alongside gold through a constitutional amendment
— Solid Intel 📡 (@solidintel_x) January 3, 2025
If the necessary signatures are collected, the proposal will move to the Swiss Federal Assembly for parliamentary review. Advocates are optimistic that this could mark a significant step toward integrating digital assets into Switzerland’s economic framework.
Despite this progress, the Swiss National Bank remains cautious. Martin Schlegel, Chairman of the SNB’s Board of Directors, voiced concerns about Bitcoin’s volatility and its links to illegal activities, describing it as a “niche phenomenon.” He noted, “Crypto assets have limitations that cannot be ignored.”
The Federal Chancellery clarified that the proposal is designed to ensure compliance with Switzerland’s stringent financial governance standards. However, it remains unclear whether the SNB will shift its conservative stance on digital assets.
To succeed, the initiative must gain support from approximately 1.12% of Switzerland’s 8.92 million citizens. Proponents believe this move could position Switzerland as a leader in cryptocurrency adoption within Europe, but the road ahead involves navigating regulatory hurdles and addressing the SNB’s reservations.
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