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Swiss Bitcoin Reserve Campaign Set to Lapse After Falling Short on Signatures

According to Reuters, a Swiss initiative to require the Swiss National Bank to hold Bitcoin alongside gold and foreign currencies failed to secure enough signatures, though supporters say another push remains possible.

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Fact Check
All key elements of the claim are directly confirmed by multiple authoritative sources. Reuters ('Campaigners drop bid to make Swiss National Bank hold bitcoin', May 8, 2026) is the primary source cited in the claim and directly confirms the campaign was dropped due to insufficient signatures. CoinDesk ('Swiss central bank bitcoin reserve push fails over signature shortfall', May 9, 2026) adds that only ~50,000 of the required 100,000 signatures were collected, confirming the shortfall. NewsBTC ('Swiss Bitcoin Reserve Effort Withdrawn After Resistance From Central Bank') confirms that campaign founder Yves Bennaim plans another push, directly corroborating the claim's note that 'supporters say another push remains possible.' The claim accurately characterizes the initiative as seeking to require the SNB to hold Bitcoin 'alongside gold and foreign currencies,' which matches the constitutional amendment language described in the sources. No conflicting evidence was found.
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Summary

A Swiss initiative sought a constitutional amendment requiring the Swiss National Bank to hold Bitcoin alongside gold and foreign-currency reserves, a notable shift from traditional central bank reserve assets. Reuters reported that supporters failed to gather the 100,000 signatures required within 18 months to force a national referendum, causing the campaign to lapse. Founder Yves Bennaim said another attempt could follow. Backers argued Bitcoin could reduce reliance on the U.S. dollar and euro, while the SNB remained cautious and ECB policymakers have said reserve assets must be liquid, secure, and stable. The report also noted continuing blockchain adoption in Switzerland’s financial sector, including AMINA Bank’s FINMA-registered custody and trading services for Canton Coin on the Canton Network.

Terms & Concepts
  • Bitcoin reserves: Bitcoin held as part of reserve assets, similar in concept to foreign currencies or gold held by a central bank.
  • Central bank reserves: Assets such as foreign currencies and gold that a central bank holds to support monetary operations and financial stability.
  • Constitutional amendment: A formal change to a country’s constitution, typically requiring a higher legal threshold than ordinary legislation.