Swiss Bitcoin Reserve Campaign Nears Collapse After Failing to Gather Enough Support

Swiss cryptocurrency advocates have decided to abandon their effort to force a national referendum on whether the Swiss National Bank should hold Bitcoin in its reserves. The initiative failed to gain enough public support, collecting only about 50,000 signatures—well below the 100,000 required to trigger a vote.

This outcome follows the Swiss National Bank’s rejection of the proposal. The central bank argued that cryptocurrencies are too volatile and lack sufficient liquidity, making them unsuitable for inclusion in official reserve holdings.

Source: Reuters