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Switzerland is considering adding bitcoin to the country’s reserve assets

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On October 8, 2B4CH, a non-profit Swiss think tank that assists the Swiss government in studying cryptocurrencies and blockchain technology, announced its intention to launch a federal popular initiative with the goal of collecting 100,000 signatures for the ‘introduction of bitcoin in article 99 clause 3 of the Swiss federal constitution, which would allow the government to add bitcoin to the list of assets held by the Swiss central bank.

But the stated goal is not the success or failure of the initiative, but to collect signatures to ensure that this proposal is presented to Swiss citizens to vote, as explained by the founder and president of 2B4CH, Yves Bennaim.

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“If the signatures are successfully collected, the vote will have to take place legally, as will the conversations and debates, which will ultimately inform and educate everyone in Switzerland better, and hopefully around the world, as we lead by example,” he said. Bennaim. “We hope that the vote is successful, but even if it does not, it will already be a success to bring the topic to public debate,” he noted.

If the vote is successful, the Swiss National Bank will have to learn how to add bitcoin to its reserves, holding it in the “best and safest way”, which would make Switzerland one of the world’s leading nations in the sector and benefit its economy on many levels. Bennaim said, adding: “Such an addition to the constitution would benefit Swiss citizens in the same way as Silicon Valley or the London Stock Exchange for citizens of their respective countries.”

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According to Bennaim, 2B4CH is still in the preliminary phase of the project, now testing the potential interest in the initiative. The next steps include the presentation of the project to the confederation and the official collection of signatures. “When this phase is successfully completed, it will take months or even years for the vote to actually take place,” said Bennaim.

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