2B4CH, a Swiss non-profit think tank assisting the state in exploring cryptocurrencies like Bitcoin (BTC) and blockchain technology, is launching an initiative that could make Bitcoin one of the country’s reserve assets.
On Friday, the association announced plans to start a popular federal initiative by collecting 100,000 signatures for the introduction of Bitcoin to article 99 clause 3 of the Swiss federal constitution.
The initiative specifically proposes to add Bitcoin to the list of assets held by the Swiss central bank, which would change the constitutional clause to: “The Swiss National Bank shall create sufficient currency reserves from its revenues; part of these reserves shall be held in gold and Bitcoin.”
Whether the vote is successful is not really relevant, as the initiative is focused on gathering signatures to make this proposal be presented to the Swiss citizens to vote, 2B4CH’s founder and chair Yves Bennaim said.
“We hope the vote will be successful, but even if it isn’t, it will already be a success if the topic is brought to the public debate,” he added.
If the vote is successful, the Swiss National Bank, or SNB, will need to learn how to add Bitcoin into its reserves, holding it the “best and safest way,” which would make Switzerland one of the world’s leading nations in the industry and benefit its economy on many levels, Bennaim stated, adding:
“Such an addition to the constitution would affect people in Switzerland in a similar way the Silicon Valley and the London Stock Exchange have benefited the people of their respective countries.”