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Bitcoin Campaign to Force SNB Holdings Has Failed, Reuters Says
May 8, 2026 at 3:09 PM UTCSwiss crypto campaigners have abandoned a bid to require the central bank to hold Bitcoin after failing to collect enough signatures to trigger a plebiscite, Reuters reported.“We knew from the beginning that it was a long shot,” the news service cited campaign founder Yves Bennaim as saying. “For now, we are going to let the initiative lapse.”
Swiss Crypto Advocates Drop Push for SNB Bitcoin Reserves
TLDR Swiss crypto advocates drop SNB Bitcoin Reserve campaign after weak support SNB Bitcoin Reserve push fails to reach referendum signature threshold Bitcoin Initiative ends Swiss reserve campaign after missing key target Swiss central bank rejects Bitcoin reserve plan over volatility concerns SNB Bitcoin Reserve debate fades as campaigners miss required signatures Swiss crypto advocates will drop their SNB Bitcoin Reserve campaign after failing to secure enough signatures for a national referendum. The proposal sought a constitutional change requiring the Swiss National Bank to hold Bitcoin with gold and foreign currency reserves. However, the campaign reached only about half of the 100,000 signatures required under Swiss law. Bitcoin Reserve Campaign Falls Short The Bitcoin Initiative had 18 months to gather public support for the proposed constitutional change. Yet, with only weeks left, campaigners accepted that the required threshold remained out of reach. Hence, the group plans to let the SNB Bitcoin Reserve initiative lapse. The campaign aimed to force a national vote on Bitcoin’s role in Switzerland’s official reserves. Supporters argued that Bitcoin could reduce reliance on dollar and euro assets. Besides, they said Bitcoin offered a neutral reserve option that matched Switzerland’s financial independence. Campaign founder Yves Bennaim said the effort faced long odds from the beginning. However, he said the campaign still helped move the debate forward. Additionally, supporters believe the SNB Bitcoin Reserve idea may return in future political efforts. SNB Rejects Bitcoin Reserve Plan The Swiss National Bank has resisted calls to add Bitcoin to its balance sheet. The central bank said cryptocurrencies do not meet its reserve requirements. Furthermore, it cited price volatility and limited liquidity as key concerns. The SNB manages reserves that must preserve value and support monetary policy when needed. Therefore, it favors assets that remain liquid, secure, and reliable in stressed markets. The bank said crypto assets do not meet those standards. The SNB Bitcoin Reserve debate also comes during weaker Bitcoin price action. Bitcoin has lost value in 2026 after also falling last year. Moreover, that decline strengthened concerns about using volatile assets in central bank reserves. Global Reserve Debate Continues The Swiss campaign added to a wider global debate about crypto and official reserves. Central banks have studied digital assets, b...
Swiss Bitcoin Reserve Campaign Collapses After Falling Short of ...
The Swiss Bitcoin Initiative fell short, collecting only 50,000 of the 100,000 signatures required for a referendum. The SNB rejected Bitcoin as a reserve asset, citing excessive price volatility and insufficient market liquidity. Bitcoin recorded losses of 7.5% in 2026, following a 6.4% decline in 2025, weakening the campaign's core argument.
Campaigners drop bid to make Swiss National Bank hold bitcoin
Cryptocurrency advocates trying to make the Swiss National Bank hold bitcoin in its reserves are set to drop their campaign after failing to get enough signatures to trigger a referendum.
