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A run to necessitate the Swiss National Bank to clasp Bitcoin is acceptable to lapse aft failing to stitchery capable signatures to trigger a nationalist referendum, Reuters reported.
The inaugural sought to amend Switzerland’s constitution to necessitate the cardinal slope to clasp Bitcoin (BTC) alongside golden and overseas currency assets, but organizers said they collected lone astir fractional of the 100,000 signatures required nether Swiss law.
The Swiss National Bank (SNB) has repeatedly opposed adding cryptocurrencies to its holdings, saying integer assets bash not conscionable its reserve absorption standards owed to concerns astir volatility and liquidity, Reuters reported.
Campaign laminitis Yves Bennaim told Reuters the effort was ever considered improbable to succeed, but said the inaugural helped beforehand statement astir Bitcoin’s relation successful planetary finance.
Supporters of the run said Bitcoin could assistance diversify Switzerland’s reserves distant from dollar- and euro-denominated assets, which Reuters said relationship for astir three-quarters of the SNB’s overseas currency holdings.
Related: Bitcoin profit-taking whitethorn 'accelerate' arsenic terms hits 3-month high: Analyst
Countries experimentation cautiously with sovereign Bitcoin reserves
While 2025 saw a question of publically traded companies follow Bitcoin treasury strategies, sovereign adoption of Bitcoin arsenic a reserve plus has remained limited.
El Salvador was the archetypal state to formally follow Bitcoin arsenic portion of a sovereign reserve strategy aft President Nayib Bukele began authorities BTC purchases successful 2021 alongside the country’s determination to marque Bitcoin legal tender. The state presently holds 7,645 BTC, according to data from BitcoinTreasuries.com.
Source: Nayib BukeleSource: Nayib Bukele
Bhutan, besides 1 of the world’s largest sovereign holders of Bitcoin, built overmuch of its treasury done state-backed mining operations powered by surplus hydroelectric energy arsenic portion of a broader strategy to crook renewable vigor into a integer export and grow the country’s relation successful crypto finance.
However, information from Arkham Intelligence shows Bhutan-linked wallets person sharply reduced their holdings successful caller months, with reserves falling from astir 13,000 BTC astatine the extremity of 2024 to astir 3,654 BTC by April 2026 pursuing a bid of ample transfers and evident sales.
Unlike El Salvador and Bhutan, which actively accumulated Bitcoin done purchases oregon mining, the 3 largest sovereign Bitcoin holders — United States, China and the United Kingdom — chiefly acquired their holdings done transgression seizures and forfeiture proceedings.
Top 5 countries holding Bitcoin. Source: Bitcointreasuries.netTop 5 countries holding Bitcoin. Source: BitcoinTreasuries.net
On March 6, 2025, US President Donald Trump signed an enforcement bid establishing a Strategic Bitcoin Reserve capitalized with government-held Bitcoin, stating that BTC held by the reserve “shall not beryllium sold” and would beryllium maintained arsenic reserve assets of the United States.
While the enforcement bid allows Treasury and Commerce officials to research budget-neutral strategies for acquiring further Bitcoin, the reserve is initially backed by BTC already held by the authorities done forfeiture proceedings.
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