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The Daily Hodl 2025-01-01 19:41:14

New Proposal To Mandate Swiss National Bank To Hold Bitcoin on Balance Sheet Set in Motion

New Proposal To Mandate Swiss National Bank To Hold Bitcoin on Balance Sheet Set in Motion

A new proposal that would mandate the Swiss National Bank to hold Bitcoin ( BTC ) is now gathering signatures. According to Giw Zanganeh, VP of Energy and Mining at stablecoin issuer giant Tether who helped create the initiative, the proposal needs 100,000 signatures from Swiss citizens to be sent to a public referendum. Says Zanganeh, “Today we officially launched the popular initiative to add Bitcoin to the Swiss National Bank’s balance sheet. We will need the full support of our community to gather 100k signatures and make this a national referendum. Details will follow…” The official X account for the initiative also announced that the signature collection phase has begun and that it needs to break the 100,000 mark by June 30 Switzerland has already pioneered Bitcoin adoption , especially in the city of Lugano where Tether’s “Plan B” initiative has erected a statue of BTC’s anonymous creator Satoshi Nakamoto. Talks of a potential Bitcoin reserve in Switzerland mirror developments in the US, where President-elect Donald Trump has reportedly been discussing the concept with those in the industry, and Senator Cynthia Lummis has repeatedly called for a BTC reserve to pay down the country’s debt. Said Lummis in December, “To be clear, the ‘strategic’ purpose of the Strategic Bitcoin Reserve is to: explicitly, strategically, pay down government debt hanging over the head of every American. Put future Americans on a better footing, unencumbered by debt that they never supported or benefitted from… The bill language is to HODL (hold on for dear life) for twenty years (minimum) and establishes proof of reserves. By that time, the proper next action will be self-evident.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post New Proposal To Mandate Swiss National Bank To Hold Bitcoin on Balance Sheet Set in Motion appeared first on The Daily Hodl .

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