A group of Bitcoin advocates recently submitted a proposal that could obligate the Swiss National Bank (SNB) to hold Bitcoin on its balance sheet.

Switzerland Sees A Game-Changing New Bitcoin Proposal

The proposal was submitted by Tether’s VP of Energy and Mining, Giw Zanganeh, the founder and chairman of the Swiss Bitcoin nonprofit think tank 2B4CH, Yves Bennaim, and eight other advocates. Its goal is to help create a financially sound, sovereign, and responsible Switzerland, and it was initially created and submitted on December 5, 2024.

The proposal must gather at least 100,000 signatures in the next 18 months, with the deadline being June 30, 2026. If this goal is achieved, the Swiss government will have to hold a public referendum on it.

The current Swiss population sits at 8.92 million citizens, so around 1.12% of the population must sign the petition to make it reach the referendum stage. If the country decides to adopt the proposal, the Swiss National Bank will have to add BTC to its balance sheet.

2024 Was A Massive Year For Bitcoin Adoption

The proposal comes at the end of a year that has been quite excellent in terms of Bitcoin adoption. Back in the first few months of 2024, the US Securities and Exchange Commission (SEC) finally approved Bitcoin spot ETF, allowing the coin to indirectly reach the country’s stock exchanges.

The crypto sector also came under the spotlight during Trump’s presidential campaign, when he referred to himself as the first Bitcoin president, promising crypto-friendly laws and regulations, which likely brought a large portion of votes to his corner, especially after Kamala Harris’ vague statement about emerging technologies including cryptocurrencies being a part of the country’s future under her guidance if she wins the elections.

The hype further intensified when Trump’s victory triggered a crypto rally that pushed Bitcoin to over $107k per coin. And, while Switzerland is taking its own approach to taking the next step in Bitcoin’s adoption with this proposal, there are discussions in the US about adding BTC to the Treasury.

A similar idea was entertained by politicians in other countries such as Poland and Brazil, while nations like Bhutan and El Salvador became the first and currently only nations with significant BTC reserves.