What To Know:
- Swiss MP Samuel Timutschin Kullmann has proposed adding Bitcoin to Switzerland’s national reserves, sparking a political debate on including it in the country’s Constitution.
- The initiative would need at least 100,000 citizen signatures to trigger a nationwide vote requiring the Swiss National Bank to hold Bitcoin alongside gold.
- SNB President Martin Schlegel previously dismissed Bitcoin as too volatile and insecure, calling it a “niche phenomenon” unfit for the country’s financial reserves.
Switzerland could soon join the growing list of nations exploring the idea of having a Bitcoin Reserve. Swiss MP Samuel Timutschin Kullmann has publicly spoken on how to add Bitcoin to the country’s balance sheet. His remarks came during a discussion on the country’s popular initiative process, which is a political tool that allows the government to propose constitutional amendments through public referendums.
Switzerland Taps Into Bitcoin Reserve?
Kullmann revealed that a movement is already underway to incorporate Bitcoin into the Swiss Constitution. This would need collecting at least 100,000 signatures from Swiss citizens before the proposal could be formally debated and put to a national vote.
🇨🇭 SWITZERLAND MP JUST ANNOUNCED PLANS TO ESTABLISH A STRATEGIC #BITCOIN RESERVE
HERE WE GO!! pic.twitter.com/9DkBVZzrd3
— Vivek Sen (@Vivek4real_) October 27, 2025
Disclaimer: This material has not been formally verified by any government officials and is based on Samuel Kullmann’s statement.
If passed, it would compel the SNB to include Bitcoin in its reserves, adding Switzerland to the growing list of nations that view the crypto as a strategic financial asset.
However, SNB President Martin Schlegel first made his stance clear, back in April. He added that the central bank does not plan to hold Bitcoin. Schlegel had outlined several reasons for rejecting the proposal. He argued that cryptos do not have the basic characteristics of stable and reliable currencies. Their high volatility, he said, makes them unsuitable for maintaining long-term value within national reserves. Liquidity is another problem. The SNB’s holdings must be easily accessible to execute monetary policy swiftly, and Bitcoin’s unpredictable market behavior, according to Schlegel, limits that flexibility.
He also pointed to security challenges, and called cryptos, software-based assets that can contain bugs or vulnerabilities. “Software can always have weak points,” Schlegel said. He added that such risks make Bitcoin less dependable compared to traditional assets like gold or foreign currencies.
Schlegel further downplayed the relevance of Bitcoin, and called it as a “niche phenomenon.” He noted that, irrespective of its global hype, the total market capitalization of all cryptocurrencies, around CHF 2 trillion, remains small compared to the size of global financial markets. He also dismissed the idea that the SNB should feel threatened by crypto. “The franc remains highly valued,” he said. “We’re not afraid of competition from cryptocurrencies.”
Even with resistance from the central bank, the Bitcoin Initiative has gathered momentum. Launched in December, the proposal titled “For a financially strong, sovereign, and responsible Switzerland” aims to mandate the SNB to diversify its reserves by holding both gold and Bitcoin. The committee behind the initiative has 18 months to collect the required signatures. While the text does not specify how much Bitcoin should be held, its primary goal is to start a public debate on the role of Bitcoin in Switzerland’s financial future.
The initiative is backed by several crypto advocates, including internet pioneer and author Yves Bennaïm, who believes that Switzerland should maintain its tradition of financial sovereignty in the digital era. Supporters believe that holding Bitcoin could serve as a hedge against inflation, fiat debasement, and growing geopolitical risks.
Bitcoin reserves have recently become a part of the agendas of several countries. The United States currently leads with around 197,354 BTC, worth over $22 billion, followed by China, which holds roughly 190,000 BTC. Other countries, including the United Kingdom, Ukraine, the UAE, Bhutan, and El Salvador, also maintain notable Bitcoin holdings. El Salvador, in particular, has integrated Bitcoin into its national treasury strategy, having around 6,350 BTC through its “one Bitcoin a day” policy.
At the tenth edition of Wanxiang Blockchain Week, Ethereum co-founder, Vitalik Buterin Ethereum co-founder Vitalik Buterin shared a new perspective on blockchain development saying, “Not your silicon, not your keys”, as he added that hardware has become the weakest link in the digital trust chain.
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