In Switzerland, advocates for Bitcoin have launched a campaign to trigger a National Referendum, calling upon the Swiss National Bank (SNB) to integrate the leading digital asset into its reserves.

Led by Yves Bennaïm, founder and chairman of the nonprofit think tank 2B4CH, and supported by Luzius Meisser, chairman of asset manager Bitcoin Suisse, the initiative aims to amass 100,000 valid signatures from Swiss citizens to advance the referendum.

Should the campaign succeed, the referendum process could span up to five years, with all Swiss nationals participating in voting on the proposed constitutional amendment. Meisser intends to champion Bitcoin's cause at the forthcoming Swiss National Bank's general assembly, building on his prior advocacy in 2022, where he urged the bank to prioritize Bitcoin investments over German government bonds.

2B4CH, under Bennaïm's leadership, launched the Bitcoin Initiative in 2021, with the objective of enshrining BTC as a reserve currency in the Swiss Constitution. Despite encountering delays, Bennaïm clarified that the process necessitated deliberation and strategic timing, affording the SNB an opportunity to mull over Bitcoin adoption before embarking on the formal procedure.

Success in this venture would position Switzerland as a pioneer among Western nations embracing Bitcoin, although it would trail behind El Salvador, which has made substantial BTC investments and embraced it as legal tender.