Bank

Stronger

Bitcoin

Change

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/swiss-initiative-to-include-bitcoin-in-national-bank-reserves/" data-wpel-link="internal">Swiss Initiative to Include Bitcoin in National Bank Reserves</a><br></p>
<p style="text-align: justify">Under the leadership of Yves Bennaim, a group of Swiss <a href="https://en.coin-turk.com/bitcoin-investor-numbers-increasing-record-increase-in-bitcoin-whale-wallets/" data-wpel-link="internal">Bitcoin</a> advocates has initiated a referendum to mandate the inclusion of the cryptocurrency <strong><a href="https://coin-turk.com/mike-novogratzdan-ayi-piyasasi-uyarisi-bitcoin-bu-seviyelere-kadar-dusebilir" data-wpel-link="internal">BTC</a></strong> in the Swiss National Bank’s (SNB) foreign exchange reserves alongside gold. This proposed amendment would be added to the Swiss constitution and is considered a step towards expanding SNB’s reserve assets.</p> 
<h2 style="text-align: justify" id="swiss-central-bank-may-need-to-add-bitcoin">Swiss Central Bank May Need to Add Bitcoin</h2> 
<p style="text-align: justify">While gold is already a mandatory component of the SNB’s reserves, this new proposal aims to include the cryptocurrency Bitcoin as well. The change is seen as a significant shift in the country’s financial management. However, the exact implications and potential outcomes of the proposed change are not yet clear.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325181 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-BTC-Trend.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">Yves Bennaim, a prominent figure in the Swiss crypto scene and a board member of the Bitcoin Association Switzerland, states that this change is not only about altering reserve assets but also aims to spark a discussion about Switzerland’s future financial direction. According to Bennaim, the purpose of this step is to make a strategic move to preserve Switzerland’s sovereignty and neutrality in an uncertain global economy.</p> 
<h2 style="text-align: justify" id="a-stronger-alternative-emphasis-for-bitcoin">A Stronger Alternative Emphasis for Bitcoin</h2> 
<p style="text-align: justify">Support comes especially from within the industry, including Luzius Meisser, head of asset management at Bitcoin Suisse. Meisser argues that Bitcoin could be a more robust alternative in the long term against inflationary pressures that could devalue the SNB’s investments in euros and dollars. He also suggests that Bitcoin could symbolize Switzerland’s financial independence.</p> 
<p style="text-align: justify">However, the initiative also faces some criticism. Critics point to Bitcoin’s historical volatility and regulatory uncertainties, arguing that such characteristics may not be compatible with traditional strategies employed by national central banks.</p> 
<p style="text-align: justify">At this stage, the discussion surrounding this referendum in Switzerland can be seen as part of a broader trend of increasing acceptance of cryptocurrencies, particularly Bitcoin, in financial and political spheres. However, this proposed change is not yet clear and should continue to be closely monitored for its potential to shape future financial policies. At the time of writing, Bitcoin is trading at a level of $66,200.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/swiss-initiative-to-include-bitcoin-in-national-bank-reserves/" data-wpel-link="internal">Swiss Initiative to Include Bitcoin in National Bank Reserves</a></h5>

Swiss Initiative to Include Bitcoin in National Bank Reserves

Table of Contents

COINTURK NEWS

Other articles published on Apr 22, 2024

Dogecoin Faces Challenges in Surpassing Resistance Marks

Surge in Bitcoin Layer-2 Token Prices Following BTC Halving

Superverse Price Prediction: Will SUPER Bounce Back From 200 EMA?

Memes are creating a ‘Cambrian explosion’ of crypto onboarding: Base creator

Fetch.AI’s Bullish Trend: Further Rally on the Horizon?

Thailand Regulators Crack Down on Rogue Crypto Exchanges

Join our free newsletter for daily crypto updates!