{
}
Switzerland's National Bank (SNB) faces pressure to invest in Bitcoin as part of a popular initiative advocating for constitutional changes to enhance financial sovereignty. Despite past rejections, the growing influence of Bitcoin advocates, including billionaires, suggests a potential shift in the SNB's stance amid rising global interest in cryptocurrencies. The canton of Zug, dubbed "Crypto Valley," continues to thrive as a hub for digital currency investment, attracting both private banks and wealthy investors.
A private committee, led by Bitcoin specialist Yves Bennaïm, is pushing for a popular initiative in Switzerland to mandate the Swiss National Bank to invest in Bitcoin, amending the constitution to allow part of its reserves in the cryptocurrency. The initiative, which requires 100,000 signatures by mid-2026, follows previous recommendations for significant Bitcoin investments that could have yielded substantial returns. As global interest in national Bitcoin reserves grows, Switzerland has the chance to take a leading role in this emerging financial landscape.
Lugano's partnership with Tether aims to enhance blockchain and cryptocurrency understanding through training and events, positioning Tether as a leader in the city's crypto initiatives. Tether, co-founded by billionaire Giancarlo Devasini, has also influenced Bitcoin's legal status in El Salvador and is exploring gold-backed tokens. The company's significant profits could potentially address Switzerland's federal budget deficit, though its transparency remains a concern.
In 2024, Bitcoin's price rallied to over $100,000 but only gained 121%, underperforming compared to previous years. Memecoins dominated the market, with the AI coin Virtuals Protocol leading at +23,000%. Meanwhile, Saxony's hasty sale of 50,000 Bitcoin at $52,000 cost them nearly $2 billion as prices soared. The approval of 11 Bitcoin ETFs, including the successful BlackRock iShares Bitcoin Trust, fueled investor interest, while the fourth halving did not trigger the expected price surge. Ripple's legal victory revitalized its value, and MicroStrategy announced a $42 billion Bitcoin investment plan. As the EU's MiCA regulation took effect, the crypto landscape shifted, with political dynamics influencing market sentiment, particularly in the U.S. following Donald Trump's election campaign.
Google's new quantum computing chip, Willow, promises to revolutionize processing power, solving complex problems in minutes that would take traditional supercomputers billions of years. This advancement poses a potential threat to cryptocurrency encryption, particularly Bitcoin, as quantum computers could eventually crack existing algorithms. Meanwhile, Satoshi Nakamoto's Bitcoin holdings have surged in value, making him one of the world's richest individuals, raising concerns about market stability if he were to sell.
Meme coins, led by Doge Coin, have become a significant part of the cryptocurrency landscape, attracting millions of newcomers despite their often trivial origins. While some investors see potential in these tokens, critics highlight their lack of utility and the risks of scams. As the market evolves, established cryptocurrencies face challenges, and regulatory scrutiny increases, particularly in Switzerland.
The Bitcoin Association Switzerland is advocating for the country to regain its status as a leader in Bitcoin and crypto innovation, following a recent meeting with Swiss parliament members. Despite past disillusionment, the association's leadership expressed optimism about potential regulatory improvements and the growing acceptance of Bitcoin among institutional investors. With favorable conditions and political engagement, they aim to reverse the trend of innovation migrating abroad.
Luzius Meisser
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
switzerland's national bank faces pressure to embrace bitcoin investment strategy
21Shares Bitcoin Suisse ETP
NVIDIA Corporation
CHE
USA
Yves Bennaim
Matthew Jordan
Kaspar Villiger
Elon Musk
Ueli Maurer
Donald Trump
Luzius Meisser
Martin Schlegel
Show more
06:20 13.01.2025
Swiss initiative seeks to mandate National Bank investment in Bitcoin
Swiss Franc
Swiss National Bank
RUS
CHE
CHN
USA
Matthew Jordan
Donald Trump
Luzius Meisser
Vladimir Putin
Cynthia Lummis
Show more
11:09 06.01.2025
Tether's Swiss Connection and Its Impact on Global Stablecoin Market
FRA
AUT
HKG
CHE
SLV
DEU
VGB
ITA
GBR
Christian Angermayer
Reeve Collins
David Yermack
Giancarlo Devasini
Craig Sellars
Paolo Ardoino
Werner Grundlehner
Luzius Meisser
Brock Pierce
Show more
06:18 06.01.2025
crypto year in review bitcoin rally and meme coins dominate 2024
MicroStrategy Inc
USA
DEU
Luzius Meisser
Bill Gates
Satoshi Nakamoto
Paul Atkins
Werner Grundlehner
Michael J. Saylor
Donald Trump
Show more
06:16 03.01.2025
quantum computing threatens bitcoin security as new technology emerges
United States Dollar
Google Inc.
Ripples USD
USA
Bill Gates
Dominic Weibel
Satoshi Nakamoto
Luzius Meisser
Show more
06:31 20.12.2024
meme coins rise amid skepticism as traditional finance hesitates on crypto
United States Dollar
Microsoft Corporation
Satya Nadella
Leon Curti
Marc Steiner
Michael J. Saylor
Werner Grundlehner
Luzius Meisser
Show more
06:57 13.12.2024
swiss bitcoin association seeks to revive country's crypto innovation leadership
United States Dollar
Swiss Franc
Swiss National Bank
Swiss Blockchain Federation (SBF)
CHE
USA
Donald Trump
Phil Lojacono
Niklas Nikolajsen
Adriano Bertini
Rahim Taghizadegan
Lisa Tscherry
Luzius Meisser
Show more
10:38 11.12.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Global Trade Developments
Domestic Politics
Retail and Consumer Goods
Central Bank Actions
CEO Changes
Government Policies
Market Analysis and Predictions
Workplace Trends
Startups & Entrepreneurship
Elections & Campaigns
Government Economic Policies
Inflation and Monetary Impact
Supply Chain Management
Countries:
Companies:
Tesla, Inc.
JPMorgan Chase & Co.
Barclays PLC
Deutsche Bank Money Market PP
Apple Inc.
UniCredit S.p.A.
Banco BPM S.p.A.
Credit Suisse Strategic Income I
The Goldman Sachs Group, Inc.
SpaceXCoin USD
Lloyds Banking Group plc
BNP Paribas SA
UBS Group AG
Banco Santander, S.A.
CREDIT AGRICOLE
Amazon.com, Inc.
Berkshire Hathaway Inc.
Credit Agricole
Reinsurance Group of America, Incorporated
Google Inc.
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Chinese Yuan
Indian Rupee
Japanese Yen
South Korean Won
Canadian Dollar
Australian Dollar
Offshore Chinese Yuan
Hong Kong Dollar
Singapore Dollar
Mexican Peso
Vietnamese Đồng
Indonesian Rupiah
Thai Baht
Norwegian Krone
Swedish Krona
Filipino Peso
People: