Switzerland – a country known for its neutral and reliable financial system – is taking a groundbreaking step by proposing a constitutional amendment to include $BTC in the national reserves alongside gold. This move could place the country among the pioneers in applying cryptocurrency on a national scale.
Specific Constitutional Amendment Proposal
On December 31, 2024, the Bitcoin advocacy group in Switzerland led by Giw Zanganeh, Vice President of Energy and Mining at #Tether , along with Yves Bennaïm, the founder of the 2B4CH organization, announced plans to amend Article 99, Paragraph 3 of the Swiss Federal Constitution.
The content of the proposal is as follows:
"The National Bank builds a sufficiently large currency reserve from its own income; part of this reserve includes gold and Bitcoin."
If passed, this proposal would task the Swiss National Bank (SNB) with managing the Bitcoin reserve, aiming to accumulate Bitcoin as a strategic reserve asset similar to gold.
Referendum Challenge
In Switzerland, any changes to the Constitution must be approved through a referendum. The advocacy group must collect at least 100,000 signatures by June 30, 2026, for this proposal to be put to a vote. This is the first step in a long journey to realize this ambitious idea.
Yves Bennaïm shared that the group has been preparing for the campaign since April 2024, awaiting a positive change in global perception of Bitcoin. "We have been waiting for a moment when opportunity, awareness, and acceptance converge. Now, all the necessary elements are ready," he said.
Benefits and Barriers
If passed, Switzerland could follow in the footsteps of #ElSalvador – the first country to integrate Bitcoin into its national reserves – to become a new symbol of global cryptocurrency acceptance. However, Chairman #SNB , Martin Schlegel, has expressed concerns about Bitcoin's high price volatility, arguing that this could pose risks to the economy.
Additionally, the SNB is focusing on a pilot project to develop a central bank digital currency (CBDC) to support payments between financial institutions. This shows that the bank remains cautious about decentralized solutions like Bitcoin.
The Global Bitcoin Race
Not only Switzerland, but many other countries are also considering integrating Bitcoin into their national reserves:
El Salvador has accumulated over 6,000 BTC, recording profits of over $300 million.
Hong Kong has just proposed to include Bitcoin in its reserve portfolio, a move predicted to be a "stepping stone" for China to join this race.
The United States is also not staying out of this. President Donald Trump has pledged to establish a Bitcoin reserve fund and may soon sign an executive order to include Bitcoin in the national reserves.
Conclusion
Switzerland is facing a historic opportunity to assert its role as a global financial center in the era of cryptocurrency. Although there are many barriers, if successful, this proposal would set a new precedent, reinforcing Bitcoin's position as a strategic asset in the global financial system.
