ZoneBitcoin EditorialA group of bitcoiners based in Switzerland is today making a new attempt to convince the Swiss National Bank (SNB) to include Bitcoin in its reserves. They launched a petition online to initiate a referendum to amend the country's constitution. However, this initiative requires the collection of more than 100 signatures from Swiss citizens.
Adding Bitcoin to the central bank's reserves is seen as a measure to protect Switzerland's sovereignty and neutrality in an increasingly uncertain world.
2B4CH group's plan to have Bitcoin included in the Swiss Constitution
The group behind the“Bitcoin Initiative" is called 2B4CH, a non-profit Bitcoin think tank, whose representative is Yves Bennaim. Their goal is to have Bitcoin included in article 99-3 of the Swiss Federal Constitution, which concerns the monetary reserves of the National Bank. Currently, this article stipulates that the bank must establish sufficient monetary reserves, part of which must consist of the possession of gold.
To achieve this goal, they launched a popular consultation called the “Bitcoin Initiative”. However, they must first collect more than 100 signatures from Swiss residents to officially present their project to the government. Other members of the bitcoin community in the country, such as Luzius Meisser, director of “Bitcoin Suisse” also support this initiative, the newspaper recalls. NZZ.
Challenges of Collecting Signatures
Collecting signatures is not an easy task. According to the Swiss constitution, a referendum can only be held if at least 100 Swiss citizens sign a petition within 000 months. This requirement posed difficulties during 18B2CH's first attempt in October 4. With a Swiss population of 2021 million, approximately 8,77% of the local population will need to support the petition by signing it.
Potential Benefits of Adding Bitcoin to Central Bank Reserves
Adding Bitcoin to the Swiss National Bank's reserves is seen as a move that would strengthen Switzerland's independence from the European Central Bank. Luzius Meisser had already proposed to the Swiss National Bank to buy Bitcoin in 2022, at the rate of one billion Swiss francs per month.
According to him, if the bank had followed this suggestion, Switzerland would currently be 30 billion Swiss francs richer. He also warns that the delay in this decision could allow other central banks to acquire Bitcoin at much higher prices, putting Switzerland at a disadvantage.
Meeting with the Swiss National Bank
Luzius Meisser will have the opportunity to present the benefits of adding Bitcoin to the Swiss National Bank's balance sheet during a meeting scheduled for April 26. However, he will only have three minutes to present his argument.
It is worth noting that the President of the Swiss National Bank, Thomas Jordan, previously stated that Bitcoin does not meet the requirements to be considered a reserve currency. However, the 2B4CH group hopes that recent approvals of Bitcoin exchange-traded funds in the United States and Hong Kong could influence the Swiss central bank's decision.
Reactions and perspectives
The 2B4CH initiative has generated positive reactions, notably that of Joana Cotar, a German politician and Bitcoin activist who strongly opposes a digital currency backed by the European Union.
It is important to note that the Switzerland is among the Western European countries that are increasingly adopting cryptocurrencies and own the most crypto companies. The craze for Bitcoin and other cryptocurrencies in Switzerland reflects the global trend, where more and more governments and financial institutions are integrating digital assets into their financial strategy, starting with Salvador.
The group of Swiss bitcoiners, 2B4CH, is determined to convince the Swiss National Bank to add Bitcoin to its reserves.
The link to the petition here.
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