Activists ask Swiss National Bank to add bitcoin to its reserves

An advocacy group is reviving an initiative to convince Swiss National Bank (SNB) members to add bitcoin to its coffers, arguing its inclusion would protect Switzerland's economic independence, Swiss newspaper Neue Zürcher Zeitung reported Saturday. Pro-bitcoin activists will present the idea to an SNB committee at a meeting on April 26.  

The group is preparing to submit documents on its proposal to Switzerland’s State Chancellery, a necessary step to pitch the SNB, Bitcoin BTC +5.74% Association Switzerland board member Yves Bennaïm, who is leading the initiative, told local media.  

NZZ reported that the proposal is intended to start a debate on how to “protect [Swiss] sovereignty and neutrality” through the nation's monetary policy.

According to Luzius Meisser, who is working with the group on its proposal, Bitcoin's inclusion in the SNB’s reserves would reinforce Switzerland’s independence from the European Central Bank (ECB). 

“By including Bitcoin in its reserves, Switzerland would mark its independence from the European Central Bank. Such a step would strengthen our neutrality,” Luzius Meisser, president of asset manager Bitcoin Suisse, told local media. 

This isn't the first time bitcoin supporters have advocated for its integration into the SNB's reserves. In 2022, an advocacy group recommended the SNB purchase 1 billion Swiss francs worth of bitcoin per month in lieu of German government bonds, NZZ reported.