As a journalist, I would rewrite the following article:
Cryptocurrency advocates are pushing for the inclusion of Bitcoin in Switzerland’s foreign exchange reserves. They believe that doing so will enhance the country’s independence and neutrality. A group led by Yves Benaim is launching a popular initiative to amend the constitutional article to include Bitcoin alongside gold in the reserves of the Swiss National Bank (SNB). The simplicity of such a change allows the SNB flexibility in determining its investment in Bitcoin.
The primary objective of this initiative is to spark debate on Switzerland’s future sovereignty and neutrality in an uncertain world. Bennaim, with the support of the Bitcoin Association Switzerland, is preparing the necessary documents to submit it to the State Office. Lucius Meisser, a prominent figure in the financial world, also supports Bitcoin as a reserve currency. He cites its long-term robustness compared to traditional investments in euros and dollars.
Meisser argues that incorporating bitcoin into foreign exchange reserves would improve Switzerland’s independence and neutrality from European Central Bank (ECB) influence. While some may see their claims as challenging due to Switzerland’s crypto valley status, proponents believe that being an early adopter of bitcoin investments could bring significant benefits down the line.
Recent legitimization of Bitcoin as a commodity by US Securities and Exchange Commission may influence SNB’s decision to invest in Bitcoin due to its positive diversification effects on investments. Scholars also support this rationale, noting that with rising government debts and economic risks, diversifying foreign reserves with bitcoin could be beneficial for SNB.
Despite no official statement from SNB regarding whether Bitcoin qualifies for foreign reserves yet, proponents continue promoting its inclusion as they believe it could strengthen Switzerland’s reputation as a crypto nation while providing much-needed diversification in changing global monetary system.
In summary, cryptocurrency advocates are pushing for Switzerland’s foreign exchange reserves to include Bitcoin as they believe it will enhance independence and neutrality while providing much-needed diversification in changing global monetary system. This initiative is gaining traction among prominent figures like Yves Benaim and Lucius Meisser who advocate for bitcoin as reserve currency citing its long-term robustness compared to traditional investments.