
Switzerland and Bitcoin are a perfect match. The Swiss Confederation stands for financial stability, independence, and innovation. As a decentralized, borderless, technologically secure monetary asset, Bitcoin shares many similarities. One option would be for the Swiss National Bank (SNB) to include Bitcoin in its currency reserves. This article explains how to do this and what initiatives exist.
This blog post explores why Switzerland should create Bitcoin reserves. This move would align seamlessly with the country’s financial heritage.
Switzerland’s financial heritage and the problems with fiat currencies
Switzerland, despite its relatively small size, has long been a global financial center. Its banking sector and currency, the Swiss franc (CHF), are pillars of stability. However, like many fiat currencies, the Swiss franc faces challenges. Global inflation is taking its toll.
Fiat currencies tend to inflate over time. Tangible assets like commodities or gold do not back them. The Swiss National Bank (SNB) has tried various strategies to counteract this. These include investing in tech stocks such as Apple, Tesla or Meta. This approach is one way to counteract the steady depreciation of the currency. However, it has also been criticized because the SNB incurred a loss of around 132 francs with it in 2022.
Therefore, the SNB needs a more resilient reserve value. This is where Bitcoin comes in. It is a scarce, decentralized, and deflationary asset. It is a solution to global challenges.
Reasons why Switzerland should adopt Bitcoin as a reserve currency
1. Financial neutrality
Switzerland is renowned globally for its neutral stance. The Swiss franc has earned a reputation as a stable currency, valued worldwide. Bitcoin’s decentralized, uncensorable nature makes it the most neutral money. If Switzerland adopts Bitcoin as a reserve currency, it will enhance its neutrality. It will also add a resilient, independent asset to its reserves. This move could protect the franc and boost Swiss innovation.
2. Diversification of national reserves
As mentioned, the SNB’s past equity investments were risky and volatile. While gold remains a staple of Swiss reserves, Bitcoin offers a complementary solution. Its limited supply and rising use as a store of value make it ideal for the national balance sheet. Switzerland could store Bitcoin in cold wallets in vaults, like its gold bars. This would ensure long-term security and independence.
3. Geopolitical hedging
Switzerland’s neutrality is in question after recent participation in international sanctions. This has created a conflict between maintaining neutrality and protecting its economic interests. Bitcoin’s neutrality could resolve this tension. Bitcoin is a non-sovereign, decentralized asset. It aligns with Switzerland’s ethos of impartiality. Adopting Bitcoin would let Switzerland avoid geopolitical entanglements. It would safeguard its political and economic independence.
4. Promoting technological innovation
Crypto Valley in Zug and Lugano in southern Switzerland are already key locations for Bitcoin innovation. By adopting Bitcoin as a reserve currency, Switzerland could boost its tech leadership. It would attract companies and talent from around the world. Clear and progressive regulation has already laid the foundation for this.
5. Economic growth and new opportunities
A nationwide adoption of Bitcoin could spur economic growth. Companies centered around Bitcoin would flock to Switzerland, creating jobs and fostering investment. Banks would follow the SNB’s lead. They would integrate Bitcoin into their services and create new financial products. It could affect education and skills. Switzerland could lead in Bitcoin fields. This influx of talent, capital, and innovation would boost the Swiss economy.

First initiatives
The potential for Bitcoin adoption in Switzerland is not just theoretical. Several initiatives aim to exploit Bitcoin’s potential for the benefit of the country.
The popular initiative seeks to amend the Swiss constitution. This would oblige the Swiss National Bank (SNB) to hold Bitcoin in its reserves. Adopting Bitcoin would improve Switzerland’s independence in the face of fiat currency fluctuations. Specifically, Article 99, paragraph 3 is to be amended to allow Bitcoin and gold to be held as reserves.
To trigger a national referendum, an initiative must collect over 100,000 signatures from Swiss citizens within 18 months. The collection period for the referendum petition runs until the end of June 2026. You can find more info and sign to support the project here.
There are also concrete ideas aside from a Bitcoin reserve. In November 2024, the Bern canton parliament approved a probe into Bitcoin mining. It would use surplus energy and stabilize the power grid. The initiative will assess Bitcoin mining to combat energy waste. It will focus on energy availability, environmental impacts, and regulations. Supporters say a good environment for Bitcoin firms could make Bern a leader in Bitcoin innovation. It would attract investment and jobs. Despite initial concerns about energy use and the environment, a large majority passed the motion. This shows a changing view of Bitcoin’s role in sustainable energy.
Watch this video to learn more about the Bitcoin initiative Switzerland, how a group of Bitcoiner’s managed to set up a signature initiative, and what would need to change for the Swiss National Bank (SNB) to use Bitcoin as a reserve asset:
Lessons from the US perspective on Bitcoin
The US insights highlight Bitcoin’s strategic importance for national security and economic policy. The US knows that controlling Bitcoin’s hashrate is key for financial sovereignty. Likewise, Switzerland can invest in Bitcoin mining. It would secure its financial transactions and boost its neutral stance.
As the 47th US President, Donald Trump plans to create a national Bitcoin reserve. This is already pressuring other countries. After El Salvador and Bhutan, Switzerland may soon embrace Bitcoin’s value. Similar debates are happening in Germany, Hong Kong, Russia, Brazil, Poland, and the Czech Republic.
Conclusion
Switzerland has always been ahead of its time in finance and innovation. Adopting Bitcoin as a reserve asset could secure its future. It would also boost its neutrality and promote growth.
Is this realistic, or are we thinking too far ahead? Let us know your thoughts. Could Switzerland be the first major Western nation to take the lead by adopting Bitcoin?
Let the discussion begin!
Disclaimer: Relai services are exclusively recommended for Swiss and Italian residents. None of this content constitutes investment advice. Always conduct your own research before investing in any digital asset.
Information about the author
