Swiss National Bank Could Include Bitcoin in its Reserves Amidst Broader Crypto Acceptance
by aria-crypto.com
January 1, 2025 at 10:04
Swiss National Bank Could Include Bitcoin in its Reserves Amidst Broader Crypto Acceptance
A new initiative spearheaded by Giw Zanganeh of Tether seeks to amend the Swiss Federal Constitution to include Bitcoin in the Swiss National Bank's (SNB) balance sheet. This proposal, needing 100,000 signatures by June 30 to advance, will potentially bring Bitcoin alongside traditional assets like gold in the national reserves. Switzerland, recognized for its crypto-friendly stance, might see this initiative influence broader trends in national bank reserves globally. Previous attempts like the one in 2021 by the think tank 2B4CH had failed, but the renewed effort follows increasing global interest, with countries like the U.S. also considering Bitcoin reserves. SNB currently diversifies its reserves with various fiat currencies and significant gold holdings. Contributions from other advocates suggest modifying the constitution to formally include Bitcoin, considering the country's progressive experimentation with crypto payments since 2016. This move has sparked debates, highlighted by SNB Chair Martin Schlegel's reservations about Bitcoin's energy consumption and payment efficacy.
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