A think tank led by a group of Switzerland crypto advocates has led a campaign attempting to make the country buy Bitcoin reserves for a host of reasons.
2B4CH, a non-profit think tank in Switzerland, is a leading voice of support for the crypto industry. Their members, a bunch of Switzerland crypto advocates, are leading a campaign in support of Bitcoin. Their main aim is to convince the Swiss National Bank to start buying Bitcoin reserves. To achieve it, they would need 100,000 signatures for the petition to enable a referendum.
Yves Bennaïm, who heads 2B4CH, spoke to a news daily and made some interesting comments. He said, “We are in the process of completing the organizational preparations for the committee and preparing the documents that must be submitted to the State Chancellery in order to start the process.”
According to him, had the Swiss National Bank bought Bitcoin reserves earlier, they would be much richer. It is indeed true, as Bitcoin has rallied by a huge margin in recent months due to multiple factors.
The real challenge for the Switzerland crypto advocates lies in getting the necessary support from locals. They had also attempted a similar initiative in 2021, but failed to gather support. Even in 2024, the support from 100,000 individuals amounts to around 1.15% of the Swiss population.
Meanwhile, 2B4CH also aims to make Bitcoin one of the reserve currencies in the country’s constitution. Luzius Meisser, another Swiss Bitcoin advocate, will get a chance to present his case in a meeting on April 26. He will have three minutes to convince the bank officials about the advantages of Bitcoin reserves.
Apart from a central bank digital currency project, Switzerland has also seen other crypto initiatives. For instance, the city of Lugano has decided to adopt crypto payments. Residents there could pay their taxes through crypto payments.
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