A new initiative is pushing for the Swiss copyright (SNB) to allocate a portion of its currency reserves to Bitcoin. While this proposal has garnered excitement within the copyright community, it is met with skepticism in political circles.
Bitcoin as Part of Currency Reserves
The initiative, led by Swiss internet pioneer Yves Bennaïm and a group of copyright advocates, seeks to position Bitcoin as a key reserve asset. The proposal draws inspiration from U.S. President-elect Donald Trump’s plan to establish a strategic Bitcoin reserve for the United States. The initiative is gaining traction among copyright supporters, although it faces resistance from the SNB. In 2022, SNB Director Thomas Jordan reiterated that Bitcoin does not meet the safety requirements for a currency reserve. "Bitcoin is a speculative asset, not a stable foundation for reserves," Jordan stated.
Advocates Highlight Bitcoin’s Potential
Luzius Meisser, a board member of Bitcoin Suisse and a key member of the initiative, believes Bitcoin could help reduce Switzerland's reliance on the European Central Bank. "The SNB holds significant euro reserves, which creates political dependency," Meisser argued. The initiative's committee has until June 30, 2026, to collect the required signatures to push the proposal forward. Proponents believe that Bitcoin investments could benefit both the SNB and Switzerland as a whole. Bennaïm has also dismissed claims that the initiative is aimed at boosting Bitcoin’s price. "The price increases due to growing demand and limited supply, not because of this initiative," he explained.
To learn more about this new initiative and the potential implications for the SNB's reserves, check out this article.
Political and Party Skepticism
Despite the growing acceptance of cryptocurrencies, many politicians remain cautious. Benjamin Fischer, a member of the SVP National Council and an advocate for the copyright industry, supports the idea of a Bitcoin reserve but opposes compelling the SNB to adopt it. "The copyright must remain independent and make its own decisions," Fischer emphasized.
The initiative has sparked mixed reactions and could lead to significant debates in the years ahead. Whether the public will support the proposal remains uncertain, and the question of whether Bitcoin should be part of the SNB’s reserves could influence Swiss financial policy for years to come. For the latest updates on this topic, visit Euro News.