As an analyst with extensive experience in the crypto-sphere, I find the recent developments surrounding Bitcoin in Switzerland to be both intriguing and promising. Having witnessed the surge of interest in BTC following the halving event in Zurich, it’s clear that the Swiss are embracing the future of digital assets. The passage of Kullmann’s proposal underscores this shift, signaling a potential pathway for Switzerland towards Bitcoin adoption.
In simpler terms, Swiss policy expert Samuel Kullmann won a large majority vote for a project investigating the use of Bitcoin mining to improve local energy systems.
As an analyst, I’ve been closely following the developments surrounding Bitcoin (BTC). In line with the insights shared by Bitcoin advocate Dennis Porter, a significant proposal put forward by Kullmann was recently accepted on November 28th. This could potentially pave the way for Switzerland to embrace Bitcoin adoption.
The Bitcoin strategy is now focusing on determining ways to utilize the world’s leading decentralized, proof-of-work blockchain to stabilize the Swiss power grid and harness otherwise unused energy. Kullmann’s idea was approved after receiving a majority vote of 85 to 46 in Switzerland’s Parliament.
The parliament of @kanton_bern, with a decisive vote of 85 to 46, calls for a report examining the possibility of Bitcoin mining as a means to balance our energy grid and making use of excess energy. This initiative was jointly proposed by @simonryser from the Green Liberal Party and @KorabRashiti1.
— Samuel Kullmann (@samuelkullmann) November 28, 2024
The Swiss trek to Bitcoin
The fact that Switzerland’s policy towards Bitcoin is not unexpected is evident, given the substantial curiosity from Swiss residents following the Bitcoin halving event. In April, according to reports by crypto.news, Zurich, being the largest city in Switzerland, emerged as the number one location for Google searches related to the Bitcoin halving.
Although a Bitcoin ETF was approved in the U.S. some time ago, it’s Europe that has been leading the charge in terms of Google searches about the trillion-dollar cryptocurrency and its coding updates. The Bitcoin mining reward is reduced by half every four years as a means to preserve scarcity and manage inflation.
In August, it was disclosed that the Swiss National Bank had acquired MicroStrategy shares. Given that MicroStrategy is the largest corporate Bitcoin holder with a treasury worth $35 billion, purchasing MSTR could potentially offer investors an indirect way to invest in the popular digital currency.
Global adoption
In the year 2024, the adoption of Bitcoin (BTC) expanded globally, aligning with a surge in international inflation worries and an increased appetite among institutions for BTC. Legislation proposing the establishment of strategic national BTC reserves was tabled by lawmakers in both the United States and Brazil.
Mayor Ken Sim of Vancouver advocated for a diversification strategy that includes investing in Bitcoin as part of the city’s financial reserves. Companies worldwide have been investing significant amounts into Bitcoin holdings, emulating the approach set by Michael Saylor and his tech empire.
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2024-11-29 00:18