Swiss Bitcoin Initiative fails to get enough signatures, SNB rejects Bitcoin as reserve asset.

The Swiss Bitcoin Initiative fell short of collecting the 100,000 signatures needed to force a referendum, securing only about 50,000. The campaign aimed to amend Switzerland's constitution to require the Swiss National Bank (SNB) to hold Bitcoin alongside traditional reserves like gold and foreign currencies. The SNB opposed the proposal, citing Bitcoin's price volatility and lack of market liquidity, especially after Bitcoin lost 7.5% in 2026 following a 6.4% drop in 2025. While some central banks like the Czech National Bank explore crypto investments cautiously, the SNB and European Central Bank maintain that reserves must be liquid and secure, criteria Bitcoin currently does not meet. The initiative's failure marks a pause but not an end to debates on digital assets in central banking.