This was stated by Gio Zanganeh, Vice President of Energy and Mining at stablecoin giant Tether Announce A new initiative to amend the Constitution of Switzerland in order to add Bitcoin to the balance sheet of the Swiss National Bank (SNB).

Earlier today, it was published in the Federal Gazette (Bundesblatt), which began the signature collection phase.

card

This initiative will have to secure a total of 100,000 signatures from Swiss citizens by June 30. If successful, it will be reviewed by the Swiss Federal Assembly, the country's bicameral federal parliament.

The Swiss National Bank's reserves are diversified across different fiat currencies and vast gold reserves. It contains about 1,040 tons of yellow metal.

card

but, Bitcoin Supporters also want Bitcoin to be included in Article 99 (paragraph 3) of the country's federal constitution, which states that part of the country's reserves must be in gold. This may require adding two or three words (depending on the language).

This is not the first time such an initiative has been launched. Back in October 2021, 2B4CH, a local think tank focused on cryptocurrencies, launched a similar initiative. At the time, it was expected to fail. However, now that the United States is seriously considering creating a strategic bitcoin reserve, other countries may follow suit.

like Reported by U. TodayChristian Lindner, former German Finance Minister, has called for Bitcoin to be added to Germany's national reserves as well as those of the European Central Bank (ECB).

Switzerland, of course, is known as one of the most cryptocurrency-friendly countries. Zug, one of 26 cantons, began experimenting with Bitcoin payments in 2016 when the pioneering cryptocurrency was still relatively unknown.