Swiss Bitcoin reserve campaign ends after missing signature goal

Switzerland’s campaign to require its central bank to hold Bitcoin reserves has ended after failing to collect enough signatures for a referendum.

A campaign to require the Swiss National Bank to hold Bitcoin as part of its reserves has ended after failing to gather enough public support. The initiative, known as the Bitcoin Initiative, sought to amend Switzerland’s constitution so the central bank would maintain Bitcoin alongside gold and foreign currencies. Organizers collected about 50,000 signatures—only half of the 100,000 needed to trigger a nationwide referendum within the 18-month deadline. Supporters argued that holding Bitcoin could reduce Switzerland’s reliance on the US dollar and euro, and provide a neutral reserve asset. However, the Swiss National Bank opposed the proposal, citing concerns over Bitcoin’s price volatility and liquidity. As a result, the initiative will expire without further action, reflecting ongoing debates in Europe over whether central banks should include cryptocurrencies in their reserves.