Swiss Bitcoin proponents are leading a fresh initiative to urge the Swiss National Bank to incorporate Bitcoin (BTC) into its reserves through a constitutional referendum.

Yves Bennaïm, spearheading this effort through the non-profit think tank 2B4CH, emphasizes that integrating Bitcoin into the national bank's reserves is vital for Switzerland's sovereignty and neutrality amid global instability.

In an interview with Neue Zürcher Zeitung on April 20, Bennaïm revealed that they are finalizing organizational details and drafting necessary documents for submission to the State Chancellery to initiate the referendum.

To meet the referendum's requirements, 2B4CH must secure 100,000 signatures from Swiss citizens within 18 months, a challenge that hindered their initial attempt in October 2021.

Luzius Meisser, leading Bitcoin Suisse, collaborates with Bennaïm. He believes including Bitcoin would affirm Switzerland's financial independence from the European Central Bank and reinforce its neutral stance.

Meisser plans to present the benefits of adding Bitcoin to the central bank's assets in a meeting with the Swiss National Bank on April 26, where he will have three minutes to present his case.

Although Meisser's previous proposal in March 2022 was rejected by Thomas Jordan, Chair of the Swiss National Bank, he remains optimistic about the potential benefits. He warns that delays could result in higher acquisition costs, with other central banks possibly entering the Bitcoin market.

Leon Curti, head of research at Digital Asset Solutions, sees hope in recent approvals of Bitcoin spot exchange-traded funds in the US and Hong Kong, potentially influencing the Swiss National Bank's stance on Bitcoin investment.

The initiative has garnered support from international figures like Joana Cotar, a German politician and Bitcoin activist, who is critical of a European Union-backed digital currency.

This move to integrate Bitcoin into Switzerland's reserves aligns with its growing role as a blockchain and crypto innovation hub, exemplified by the expansion of Crypto Valley, where the top 50 entities doubled in value to $382.93 billion in 2023. Additionally, the city of Lugano announced plans to accept Bitcoin and other cryptocurrencies for tax payments in December, underscoring Switzerland's progressive stance on digital currencies.