- Swiss federal chancellery initiates proposal for national Bitcoin holdings on December 31, 2023.
- Initiative requires 100,000 signatures from Swiss citizens by June 30, 2026.
- Proposal led by 2B4CH chairman and Tether VP, along with eight Bitcoin advocates.
- Previous attempt in October 2021 was postponed due to limited institutional Bitcoin adoption.
- Success would make Switzerland first nation to constitutionally mandate Bitcoin reserves.
Swiss Push for Constitutional Bitcoin Reserves
Switzerland’s federal chancellery has launched a groundbreaking proposal requiring the Swiss National Bank (SNB) to maintain Bitcoin reserves. The initiative, announced December 31, marks a potential shift in national monetary policy.
The proposal needs signatures from 100,000 of Switzerland’s 8.92 million residents by mid-2026 to advance to a public referendum. Led by Yves Bennaïm, founder of Swiss Bitcoin think tank 2B4CH, and Tether’s vice president Giw Zanganeh, the initiative represents a renewed push for institutional Bitcoin adoption.
Strategic Timing and Historical Context
This latest attempt follows a postponed 2021 initiative when institutional Bitcoin acceptance was less widespread. According to Zanganeh, the timing aligns with growing institutional interest in cryptocurrency assets.
The proposal structure reflects Switzerland’s direct democracy system, where citizens can propose constitutional amendments through popular initiatives. If successful, Switzerland would become the first nation to constitutionally require its central bank to hold Bitcoin (BTC) as part of its reserves.
2B4CH, a Swiss nonprofit organization focused on Bitcoin research and advocacy, has been preparing the documentation since April 2023, indicating sustained commitment to integrating cryptocurrency into national monetary policy.
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