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A Swiss coalition is campaigning for the Swiss National Bank (SNB) to diversify its foreign reserves by adding Bitcoin, citing risks tied to traditional currencies. The initiative, launched as a constitutional referendum, aims to legally mandate BTC holdings alongside gold. Proponents argue Bitcoin offers an inflation-resistant alternative to fiat currencies.
- The initiative seeks to legally require the SNB to hold Bitcoin as part of its reserves, alongside gold, through a constitutional referendum.
- Proponents argue a 1-2% Bitcoin allocation would hedge against inflation and reduce reliance on the US dollar and euro, which make up 75% of SNB's reserves.
- SNB Chairman Martin Schlegel opposes the move, citing Bitcoin's volatility and technical risks, despite Switzerland's strong crypto adoption and 'Crypto Valley' in Zug.
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