Bitcoin Advocates Urge Swiss Central Bank to Add BTC

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A number of Bitcoin advocates have initiated a effort in Switzerland, urging the Swiss National Bank (SNB) to consider adding Bitcoin to their financial records.

The Swiss advocacy group aims to convince the Swiss National Bank (SNB) to add Bitcoin to its investment portfolio during a meeting on April 26. Their reasoning is that this move will protect Switzerland’s economic sovereignty, as reported by Neue Zürcher Zeitung.

Yves Bennaïm, a member of the Bitcoin Association Switzerland’s board, shared with local press that the organization is preparing to file papers outlining their plan with Switzerland’s State Chancellery – an essential move towards proposing the involvement of the Swiss National Bank in their initiative.

Based on NZZ’s report, the aim is to spark debate on utilizing Switzerland’s monetary policy to safeguard its independence and neutrality.

Luzius Meisser, a member of the team, argues that incorporating Bitcoin into the Swiss National Bank’s (SNB) reserves can enhance Switzerland’s financial independence from the European Central Bank (ECB).

Luzius Meisser, head of Bitcoin Suisse’s asset management, spoke to local press and expressed that Switzerland intends to show autonomy from the European Central Bank by adding Bitcoin to its official reserves. This move, he added, would enhance our country’s impartiality.

Backers of Bitcoin have previously proposed adding it to the Swiss National Bank’s (SNB) reserves. In fact, an advocacy group suggested in 2022 that the SNB should purchase one billion Swiss francs worth of Bitcoin every month instead of German government bonds, as reported by NZZ.

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2024-04-22 23:00