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$BTC 【Switzerland's Initiative to Promote Central Bank Holdings of Bitcoin to End Due to Insufficient Signatures】
The Bitcoin Initiative to include Bitcoin in the Swiss National Bank's reserves is expected to end due to failing to gather the 100k signatures required to trigger a referendum. The initiative, nearing the end of its 18-month collection period, received only about half of the signatures. The Swiss National Bank reiterated that cryptocurrency price volatility and insufficient market liquidity do not meet its foreign exchange reserve requirements. Yves Bennaim, founder of the Bitcoin Initiative, stated that although the initiative will expire, some progress has been made in related discussions.