Swiss Bitcoin Reserve Push Collapses as Campaign Falls 50,000 Signatures Short

A Swiss campaign to compel the Swiss National Bank to hold Bitcoin in its reserves is set to lapse after gathering only around 50,000 signatures — half the 100,000 required to trigger a national referendum. The shortfall effectively ends the initiative without a public vote.

The SNB had already signalled its opposition, citing Bitcoin's price volatility and insufficient liquidity as disqualifying factors under its reserve management criteria. The bank's stance reflects the broader reluctance among major central banks to treat crypto assets as reserve-grade instruments.

The failure is a setback for the global movement pushing sovereign Bitcoin adoption, coming after similar proposals gained traction in the United States and elsewhere. Switzerland, despite its crypto-friendly regulatory reputation, will not be adding BTC to its national balance sheet in the near term.