Swiss campaign to add BTC to central bank reserves fails

A campaign to compel the Swiss National Bank (SNB) to add Bitcoin to its reserves is expected to fail after falling short of the signature requirement for a national referendum. According to Reuters, the initiative secured only about half of the 100,000 signatures needed to trigger a public vote on the constitutional amendment. The proposal sought to have the SNB hold BTC alongside gold and foreign currencies in its foreign exchange reserves. The SNB has consistently maintained that cryptocurrencies do not meet its criteria for reserve assets, citing their high volatility and insufficient liquidity. Yves Bennaim, who launched the campaign, argued that BTC could serve as an alternative to the U.S. dollar and the euro, describing it as an internationally neutral asset.