Swiss Bitcoin reserve proposal fails! The referendum signatures did not reach 100k, reflecting that crypto remains a niche.

A Swiss referendum initiative to promote including Bitcoin as a national reserve asset has recently been officially declared a failure due to not gathering enough signatures within the legal deadline.

Bitcoin Inclusion in Central Bank Reserves Proposal Officially Terminated

An initiative originally aimed at promoting the Swiss National Bank to include Bitcoin ($BTC) as part of the country’s reserve assets has recently officially announced its failure. According to a report by Reuters, the organizers decided to abandon the push for the related referendum after failing to collect enough signatures within the statutory period.

This initiative initially hoped to leverage Switzerland’s direct democracy system to mandate the central bank to allocate some Bitcoin as a reserve asset, thereby diversifying away from fiat currency and foreign exchange risks. However, there was a clear gap remaining before reaching the national referendum threshold, and it ultimately did not advance to the official voting stage. The organizing group stated that although this goal was not achieved, discussions around integrating Bitcoin into the national financial system may continue in the future.

Swiss Central Bank Remains Cautious Toward Bitcoin

Although Switzerland has long been regarded as one of the most crypto-friendly countries globally, the Swiss National Bank has maintained a relatively conservative stance toward Bitcoin.

Swiss central bank officials have repeatedly publicly stated that Bitcoin’s price volatility is too high for it to serve as a national reserve asset, and they also have concerns about its liquidity, regulation, and long-term stability.

Especially in recent years, against the backdrop of rising global economic and geopolitical risks, most central banks still prefer holding traditional safe-haven assets such as US dollars, gold, and government bonds, rather than highly volatile cryptocurrencies. Even as countries like El Salvador actively promote Bitcoin as a national currency experiment, major developed economies’ central banks have yet to truly incorporate Bitcoin into their official reserves.

The market generally believes that if the Swiss central bank were to take such measures, it could mark a significant turning point in the global financial markets. As a result, the related initiative has continued to attract high attention from the international crypto community since its proposal.

Signature Failure Reflects Limited Crypto Political Mobilization

According to the Swiss referendum system, to initiate a nationwide referendum, at least 100k valid signatures must be collected within a specified period. However, this initiative ultimately failed to meet that target, reflecting that even in Switzerland, where the crypto industry is well-developed, Bitcoin supporters’ political mobilization ability still faces limitations.

Some analysts point out that although Crypto Valley in Zug has gathered many blockchain companies and Web3 teams, crypto issues remain relatively niche and abstract for the general public.

Especially when the topic involves central bank reserves and national financial stability, most people’s attitudes tend to be more conservative. Additionally, after several exchange collapses, regulatory disputes, and hacking incidents in the past two years, some middle voters’ trust in cryptocurrencies has declined.

Global Central Banks and Bitcoin Still Far Apart

This event also highlights once again that there remains a huge gap between the global financial system and Bitcoin. Although Wall Street institutions like BlackRock and Fidelity Investments have entered the Bitcoin market en masse through ETFs, the attitude of the central banking system has not changed accordingly.

For most central banks, Bitcoin is still viewed more as a high-risk speculative asset rather than a core reserve tool capable of maintaining currency stability.

However, crypto industry insiders believe that even if such initiatives fail, they still carry symbolic significance. Because until now, almost no one seriously discussed “whether central banks should hold Bitcoin,” but now it has entered formal public policy debates. To some extent, this also shows that Bitcoin is gradually moving from a fringe financial experiment toward mainstream financial system discussions.

This article is compiled by Crypto Agent from various sources, reviewed and edited by Crypto City. It is still in the training phase and may contain logical biases or informational errors. The content is for reference only and should not be considered investment advice.