Bitcoin as Swiss National Currency Reserve: A Step Toward Economic Independence and Diversification

A group of Swiss promoters is advocating for the inclusion of cryptocurrency, specifically Bitcoin, in the country’s currency reserves. They believe that doing so would enhance Switzerland’s independence and neutrality, as well as provide diversification in an uncertain world.

Led by Yves Bennaïm, the group is preparing to submit a popular initiative to amend a constitutional article to include Bitcoin alongside gold in the Swiss National Bank’s reserves. Supporters of this cause include Bitcoin Association Switzerland and Luzius Meisser, a prominent figure in the financial world who views Bitcoin as a long-term reserve currency.

Meisser argues that including Bitcoin in currency reserves would strengthen Switzerland’s independence from the European Central Bank and provide stability in an increasingly volatile global monetary system. While some may view this demand as challenging given the growing crypto valley, advocates believe that being at the forefront of Bitcoin investments could yield significant benefits in the long run.

The recent legitimization of Bitcoin as a commodity by the US Securities and Exchange Commission may also influence the SNB’s decision to invest in Bitcoin, especially given its positive diversification effects on investments. Scientists also support this cause, emphasizing that diversifying currency reserves with Bitcoin could be a wise move for countries facing increasing national debts and economic risks.

Despite no definitive statement from the SNB on whether Bitcoin meets the requirements for currency reserves, advocates continue to promote its inclusion as they believe it could bolster Switzerland’s reputation as a crypto nation and provide much-needed diversification in an unpredictable global monetary system.