A campaign to force the Swiss National Bank to add Bitcoin to its reserves has ended prematurely. Organizers secured only about half of the 100,000 signatures required to trigger a national referendum. The initiative’s founder acknowledged the effort faced difficult odds, while the central bank has consistently opposed holding volatile cryptocurrencies.
A Swiss referendum campaign to mandate the Swiss National Bank hold Bitcoin has failed. Supporters collected only around half the required 100,000 signatures before the deadline, acknowledged by campaign founder Yves Bennaim.
“The initiative would now be allowed to expire,” he stated. Bennaim noted the campaign still advanced discussion on cryptocurrency’s financial role.
The SNB has long opposed adding digital assets like Bitcoin to its reserves. It argues they are too volatile and lack the necessary liquidity for reserve management.
Other central banks have taken varied approaches to digital assets. The Czech National Bank purchased about $1 million in cryptocurrency last year to understand the market.
In contrast, the European Central Bank remains cautious, stressing reserves must stay secure and liquid. Meanwhile, a Taiwanese lawmaker recently proposed adding Bitcoin to national reserves as a strategic hedge.
The debate occurs as Bitcoin faces significant market volatility. The asset recently dropped below $80,000 and is down more than 36% from its all-time high.
