Swiss lawmaker Samuel Kullmann is spearheading a bold initiative to include Bitcoin in the nation’s constitution, as revealed by crypto advocate Dennis Porter. The plan, which has now entered the Swiss federal government review stage, could mark a groundbreaking shift in the country’s approach to digital currencies.
Referendum Plan: A Milestone for Bitcoin Advocacy
Kullmann’s proposal seeks to trigger a national referendum by collecting 100,000 signatures within 18 months, a requirement for the Swiss electorate to vote on constitutional amendments.
Dennis Porter, CEO of the Satoshi Act Fund, emphasized the broader impact of the campaign:
“Even collecting the 100,000 signatures within the 18 months will be a huge victory for Bitcoin. It will ensure every Canton-level member of Parliament is educated on Bitcoin.”
The referendum’s introduction comes alongside a separate federal initiative proposing the Swiss National Bank (SNB) add Bitcoin to its monetary reserves.
Swiss National Bank Remains Cautious About Bitcoin Reserves
Despite growing advocacy for Bitcoin adoption, Thomas Jordan, Chairman of the Swiss National Bank, remains skeptical about holding Bitcoin as part of the bank’s reserves.
In April 2024, Jordan cited concerns about Bitcoin’s liquidity and sustainability:
“Currency reserves are for international payments. They have to be liquid, sustainable, and tradable. We have not yet decided to invest in Bitcoin, and for good reasons.”
However, pro-Bitcoin campaigners continue to push for legislative changes that would allow the inclusion of cryptocurrencies in the SNB’s reserves. A formal proposal advocating Bitcoin reserves was submitted on December 5, 2024, after years of preparation.
Bitcoin Adoption in Switzerland: The Case of Lugano
Switzerland has long been a pioneer in crypto innovation, with the city of Lugano leading the way. Lugano boasts over 260 merchants accepting Bitcoin (BTC) and supports tax payments in cryptocurrencies, including BTC and Tether (USDT).
This local adoption illustrates the broader potential for Bitcoin integration within Switzerland’s economy and governance.
Momentum for Change in a Pro-Crypto Era
The surge in Bitcoin prices, spurred by President Trump’s pro-crypto policies, has added momentum to Swiss-based Bitcoin initiatives. As Kullmann’s referendum proposal moves forward, advocates hope the Swiss model could inspire other nations to adopt similar measures.
Conclusion
The push to include Bitcoin in Switzerland’s constitution represents a pivotal moment for cryptocurrency adoption. While challenges remain, the initiative underscores the growing influence of digital assets in shaping global financial systems.
For the latest on Bitcoin, blockchain innovation, and cryptocurrency trends, visit CentBit.Online—your trusted source for crypto expertise in Bangladesh.
Keywords: Bitcoin referendum, Swiss National Bank, cryptocurrency adoption, CentBit Online.
