A proposal to amend Switzerland’s Federal Constitution has been launched, aiming to require the Swiss National Bank (SNB) to hold Bitcoin on its balance sheet. The initiative, led by a nonprofit think tank, seeks to secure 1.12% of Switzerland’s population – or around 8.92 million residents – in support of the change.
The proposal targets Article 99, Paragraph 3, suggesting that the National Bank build up monetary reserves including both gold and Bitcoin. This move follows an unsuccessful attempt in 2021, when the idea was still gaining traction worldwide.
Bitcoin has gained acceptance in regions like Lugano, where around 260 merchants accept it. However, concerns remain over its environmental impact and viability as a payment method. The campaign’s success relies on mobilizing support within the next 18 months to achieve the constitutional amendment by June 30, 2026.
Source: https://finance.yahoo.com/news/swiss-proposal-seeks-mandate-bitcoin-172859583.html