According to January 18 a report By Plumberg, a group of bitcoin enthusiasts wants to force the Swiss National Bank (SNB) to hold bitcoin alongside gold, the dollar and the euro as part of its official reserves.
Their mission is nothing short of revolutionary. They want it Consolidating the status of Bitcoin In the Swiss Constitution, and in this process, we are making history. Under Switzerland’s system of direct democracy, these people have already begun collecting the 100,000 signatures they need to force a national vote.
If successful, the country’s population of 8.8 million will decide whether bitcoin deserves a seat at the table of one of the world’s most respected central banks.
A fight over money in a cryptocurrency-friendly country
This comes at a time when Switzerland is already ahead of most countries in adopting cryptocurrencies. The country has 11% of its population in digital assets, according to a 2024 report by the Lucerne University of Applied Sciences and Arts.
Bitcoin ATMs are as common as bakeries in many small towns, and since 2016, residents have been able to buy Bitcoin directly from train station ticket machines.
Lugano, a city in the country, even allows citizens to pay taxes, fines and other bills using Bitcoin. It has now served as a vacation spot for cryptocurrency elites.
Yves Beneim, head of the campaign committee, insists that bitcoin can protect Swiss reserves from the influence of foreign powers. He explained that “most of the Swiss Central Bank’s reserves are in euros and dollars.” This makes us dependent on the policies of other countries. Bitcoin offers us a way out.”
Switzerland’s love of financial privacy could play into the election campaign. There are similarities between Bitcoin’s decentralization and the country’s tradition of sovereignty.
Global winds of change
All of this comes at a time when the whole world seems to be changing its mind about Bitcoin. US President Donald Trump has backed the idea of creating a national Bitcoin reserve, and proudly calls himself the “Cryptocurrency President.” Christian Lindner, a former German finance minister, suggested that the European Central Bank might consider holding Bitcoin in December.
But Switzerland is miles ahead of these countries. In August 2019, the country became the first ever to issue licenses to cryptocurrency banks, and state-owned PostFinance AG began offering cryptocurrency services.
UBS economist Alessandro B warned of Bitcoin’s notorious volatility. “If the Swiss National Bank invests in Bitcoin, there is a real risk that its shares will shrink during market downturns. Over time, this could damage the bank’s credibility.”
Critics argue that the SNB’s credibility, built on its cautious approach, could take a hit if it embraces unpredictable assets like bitcoin. Claude Maurer, chief economist at BAK Economics, believes public confidence in the Swiss National Bank is too high for a campaign like this to succeed.
Whether the vote succeeds or not, the campaign forces Switzerland to confront its relationship with money in a way it has not done for decades. As the June 2026 deadline for collecting signatures approaches, organizers are betting that the growing acceptance of Bitcoin, both at home and abroad, will push the Swiss public to embrace this digital revolution.
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