Bank

2024

Bitcoin

April

<h4><strong>This initiative, led by French-speaking Swiss crypto evangelist Yves Bennaïm, aims to amend the Swiss constitution. </strong></h4> 
<p>It highlights the growing influence of digital currencies in modern finance. Let’s explore more about this important news for Bitcoin.</p> 
<h5><strong>Amending the Constitution for Crypto</strong></h5> 
<p>In Switzerland, the constitution can be amended through a national referendum, a process that embodies the country’s deep-rooted democratic values. For a referendum to be brought forward, proponents must gather at least 100,000 valid signatures from Swiss citizens. This mechanism allows Swiss citizens to exert direct influence over their national legislation, an empowering aspect of Swiss governance.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">BREAKING: Bitcoiners launch a <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e8-1f1ed.png" alt="🇨🇭" class="wp-smiley" style="height: 1em; max-height: 1em;">Swiss National Referendum to oblige the Swiss National Bank to put <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> on its balance sheet. </p> 
 <p>In Switzerland, each citizen has the power to launch a National Referendum to change the constitution, if they can collect 100,000 valid signatures… <a href="https://t.co/NrHXOXQigt">https://t.co/NrHXOXQigt</a></p> 
 <p>— Remo Uherek (@remouherek) <a href="https://twitter.com/remouherek/status/1781981602383331801?ref_src=twsrc%5Etfw">April 21, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The proposal spearheaded by Bennaïm’s group is precise yet impactful. It aims to tweak the wording of the constitutional article concerning the SNB’s reserve assets. Currently, the constitution mandates that “The Swiss National Bank creates sufficient currency reserves from its income; part of these reserves is held in gold.” The proposed amendment would expand this mandate to include Bitcoin, thereby revising the text to state: “in gold and Bitcoin.”</p> 
<p>The push to add Bitcoin to the SNB’s balance sheet mirrors a global trend of integrating cryptocurrencies into financial portfolios. Bitcoin, unlike traditional assets, offers high liquidity and freedom from geopolitical influences. These features make it an attractive addition to the conservative portfolios typical of national banks.</p> 
<h5><strong>More About Bitcoin</strong></h5> 
<p>Also, the proposal raises questions about Bitcoin’s volatility and its impact on national financial security. Critics claim that Bitcoin’s price volatility could threaten the fiscal stability required of central banks.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Democracy takes time. We are moving forward in Switzerland <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e8-1f1ed.png" alt="🇨🇭" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
 <p>“Now comes the popular initiative that wants to oblige the National Bank to buy Bitcoin”<a href="https://t.co/uKQnDScfvJ">https://t.co/uKQnDScfvJ</a></p> 
 <p>— Bitcoin Initiative <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f5f3.png" alt="🗳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e8-1f1ed.png" alt="🇨🇭" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@initiativeBTC) <a href="https://twitter.com/initiativeBTC/status/1781932788976931024?ref_src=twsrc%5Etfw">April 21, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Finally, supporters counter that with proper management and regulatory frameworks, the risks can be mitigated. They argue that including Bitcoin will diversify reserves and signal Switzerland’s commitment to leading in financial technology and digital currencies.</p> 
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<h5><strong>Disclaimer</strong></h5> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/swiss-referendum-aims-to-include-bitcoin-in-national-reserves/">Swiss Referendum Aims to Include Bitcoin in National Reserves</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Swiss Referendum Aims to Include Bitcoin in National Reserves

Altcoin Buzz

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