Swiss legislator Samuel Kullmann has taken a significant step towards integrating Bitcoin into Switzerland’s legal framework by proposing its inclusion in the Swiss Constitution. In order to advance this idea, his initiative calls for a referendum that requires the gathering of 100,000 signatures within eighteen months.
If this approach proves successful, it would trigger a parliamentary debate on the subject, solidifying Bitcoin’s position within the national legal framework. Currently, the Swiss federal government is in a crucial stage of reviewing the proposal.
“I am very excited about the developments in Switzerland. In 2024, I had the opportunity to speak in Switzerland on a panel alongside @samuelkullmann, a Swiss legislator who is making remarkable efforts to promote Bitcoin in the country,” tweeted Dennis Porter on January 1, 2025.
In conjunction with his constitutional campaign, Kullmann has spearheaded initiatives to explore Bitcoin’s impact on energy innovation. With a decisive 85 to 46 vote, the parliament of the Canton of Bern recently approved his proposal to assess the effects of Bitcoin mining on the local electricity grid.
The project aims to examine how Bitcoin mining can utilize excess energy to enhance grid stability, effectively converting potential surplus energy into a valuable resource despite initial government opposition. Switzerland, known for its progressive approach to cryptocurrency, may further solidify its global reputation as a hub for blockchain innovation through Kullmann’s initiatives.
As the Swiss public and lawmakers engage in discussions regarding the long-term implications, the integration of Bitcoin into national and regional systems signifies not only a technological advancement but also a cultural shift. Beyond its speculative nature, this movement seeks to position Bitcoin as a solution for enhancing infrastructure efficiency and promoting financial inclusion.
Internationally, the conversation surrounding Bitcoin’s role in national reserves is gaining momentum. The United States is leading initiatives in this realm, while countries like Germany and Hong Kong are also considering similar paths. Japan’s Prime Minister recently acknowledged Bitcoin’s potential as a hedge against inflation but expressed concerns about its price volatility, which complicates its use as a foreign exchange reserve asset.