Switzerland’s campaign to require the country’s central bank to hold Bitcoin as part of its reserves is expected to come to an end after supporters failed to gather enough signatures to trigger a national referendum.
Under Switzerland’s constitutional process, campaign organizers were given 18 months to collect 100,000 valid signatures in support of a proposal that would have required the Swiss National Bank to include Bitcoin alongside gold and foreign currency reserves. However, as the deadline approaches, the initiative has reportedly secured only about half of the required signatures.
Campaign Faces Major Defeat
Speaking to Reuters, campaign founder Yves Bennaim admitted the proposal faced significant challenges from the start and confirmed that organizers now expect the initiative to expire without advancing further.
Although the campaign fell short, Bennaim argued that it succeeded in stimulating public discussion about Bitcoin’s potential role within the global financial system.
The Swiss National Bank has repeatedly opposed the idea of adding cryptocurrencies to its reserves. The bank maintains that digital assets remain too volatile and do not provide the level of liquidity required for effective reserve management.
Officials at the central bank have also emphasized that reserve assets must enable rapid balance sheet adjustments while preserving long term value and financial stability.
Central Banks Remain Divided on Crypto Reserves
While some central banks have explored limited exposure to digital assets, global approaches remain highly cautious and inconsistent.
The Czech National Bank reportedly invested around $1 million in cryptocurrency and blockchain related assets last year as part of broader efforts to better understand digital markets and emerging financial technologies.
Meanwhile, the European Central Bank has continued to adopt a more conservative position, stressing that reserve assets must remain secure, stable, and liquid.
Last month, Taiwanese legislator Ko Ju-Chun proposed incorporating Bitcoin into Taiwan’s national reserves during a session of the Legislative Yuan attended by senior government officials. The proposal highlighted concerns about Taiwan’s heavy dependence on U.S. dollar reserves and suggested Bitcoin could potentially serve as a strategic hedge despite ongoing concerns surrounding volatility and asset custody.
Bitcoin Market Volatility Continues
The broader debate surrounding Bitcoin reserve adoption comes as the cryptocurrency market continues to experience significant price swings.
Bitcoin recently dropped below $80,000 after briefly climbing to new multi month highs earlier in the week. The cryptocurrency currently remains more than 36% below the all time high it reached last year.
Investor sentiment has also been influenced by rising geopolitical uncertainty following conflicting reports alleging that Iran had targeted a United States Navy vessel in the Strait of Hormuz.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
