Just In: Swiss law maker says "Switzerland needs a Strategic Bitcoin Reserve!"

[cabron]

It's just a declaration and we know how some of these Bitcoin enthusiasts can get ahead of themselves and make such suggestions but don't have the ability to make it work.
Kullmann is a member of the Swiss parliament but for Switzerland to have a strategic Bitcoin reserve, more force would need to be applied other than this statement from Samuel Kullmann.
 

It could happen though. Whatever the US does, the rest of the world will also position themselves towards it. If BTC is the future and Trump is going to push through their plans of Bitcoin reserves then it's not surprising anymore to see more countries following the same path.

It should make sense for a Neutral country like Switzerland to have a decentralized cryptocurrency reserve  One by one and every year there is a country joining the crypto craze.

[Silberman]

And so the Trump effect is still in the air, this time it is being felt in EU as one member of the Swiss parliament is pushing Bitcoin as a strategic reserved.

In relation toJust In: Brazil’s Congress Introduces Bill To Create Strategic Bitcoin Reserve, it seems that many countries as going to go full Bitcoin and willing to take that big risk and invest on it.

No one likes the idea of being left behind, so if the US is going to create such a reserve then other countries cannot really afford to not try to do the same, if not and they wait until this is a reality then they will have no chance to accumulate a significant amount of bitcoin, as not only the US wants to do this but private businesses as well, and if this were to happen then it is almost impossible to predict how high the price of bitcoin could go, so we need to also make an effort to accumulate all the bitcoin that we can right now.

[Shishir99]

Why did you sell? Did you need the money or did you think that was the maximum price we would reach in this bull run? And what about those that sold for $30k or less?

Both. I needed some money and I had a plan to cash some profit once we reached the 100K price. Even though we did not reach the 100K price range, I decided to sell because 90K+ is a good price. Moreover, I needed some money. The important thing is, I did not sell my whole holdings. I have a couple of thousand dollars which is not small for me. I am okay with that. But I may regret it in the future.

I also heard that as soon as he comes out, they will re-establish Silk Road and that a percentage of the profits will be given to Mr. Donald and his team. Business will flourish, at least for the next 4 years

That is too much. I don't think the commission thing is true. At least I haven't heard that from any reliable source. So, I am not sure if I should believe that.

[ultrloa]

Why did you sell? Did you need the money or did you think that was the maximum price we would reach in this bull run? And what about those that sold for $30k or less?

Both. I needed some money and I had a plan to cash some profit once we reached the 100K price. Even though we did not reach the 100K price range, I decided to sell because 90K+ is a good price. Moreover, I needed some money. The important thing is, I did not sell my whole holdings. I have a couple of thousand dollars which is not small for me. I am okay with that. But I may regret it in the future.

I don't see any problem doing that especially that our needs is more important than anything else out there. For sure many people do the same and what's more important is we still have balance left saved for future. There's still so many chance to recover and what's important for now is we are happy to spend on things that we need.

But for me I don't regret to sell and take a portion of my profit since that is part of the cycle. Although we can get more profits with it in future. But there's still a lot of chance to accumulate back again once we earn extra money from extra curricular things we do online.

[Lucius]

And so the Trump effect is still in the air,

nothing to do with the trump effect.. but funny how trump fangirls try to make everything about him..

actual fact the BIS (bank of international settlements) has for a few years now been drafting how all central banks of all nations can have upto 5% of their reserves held as instable crypto like bitcoin. where the regulation goes into effect january 2025
https://www.bis.org/bcbs/publ/d545.pdf (original draft 2022)

so nothing to do with trump and everything to do with international banking standards being modernised
the latest draft says they can only purchase upto 2% of fiat reserves in the form of crypto and if later the hoards total price encroaches a 5% of reserve fiat value, they will have to sell some. whereby they can only buy more if total fiat value of crypto held is below 2%  again

The man mentions Bitcoin a couple of times and it becomes almost more important than Satoshi Nakamoto himself - I wonder how it is so easy to manipulate the masses to achieve any goal. Besides, how many people in the world even know that BIS exists and what it actually does?

That is too much. I don't think the commission thing is true. At least I haven't heard that from any reliable source. So, I am not sure if I should believe that.

That was obviously just my joke - did you believe for a moment that there was any truth to that?

[Queentoshi]

It seems like there's a growing recognition in the importance of cryptocurrencies in national strategies and it is exciting.

Doing everything to establish a strategic Bitcoin reserve have the potentials to offer Switzerland a competitive edge in the evolving financial landscape. Truth is it will be intriguing to see how countries adapt to the changes we are experiencing in the digital economy.

[mindrust]

Countries are waking up to the reality at last. They see bitcoin has limited supply and infinite demand. It would be dumb to ignore this asset and they finally noticed their own stupidity. There will be others too. El Salvador, USA, Switzerland... Russia, China, India, France, Germany and so on. The others will also join sooner or later. Better be sooner because they'll be getting them coins for expensive if they don't. When this chain reaction starts, bitcoin will be even more unstoppable than it is not. You think $ 1 million / coin is too hard to believe now? Make it $ 1 billion / bitcoin. Now we are talking.

[Zlantann]

We do not know if both Switzerland and Brazil will eventually create a strategic BTC reserve, there is nothing concrete right now. There is a larger chance of getting a BTC strategic reserve in the U.S. than either in Brazil or in Switzerland, because the idea is being pushed by their president-elect, but we'll see.

No matter the side you are on, you cannot deny that news like this is good publicity for BTC. Even if the idea does not eventually become a reality, it is obvious that more and more institutions and countries can now see the utility of BTC.

We might see these countries and other creating Bitcoin reserve if the US eventually adopts the policy. Most nations see the US as a pathfinder and will usually copy it's policies. But the hype about using Bitcoin as a reserve will reduce if Donald Trump decides not to fulfil his promise.

With or without the US adopting Bitcoin as a reserve currency, I still believe that Bitcoin will hit the $100k mark by next year. But positive news from the US will skyrocket the price. Nevertheless, the news from Switzerland and Brazil is a good one and I sincerely celebrate these moves from lawmakers.

[shield132]

That's right, and it has yet to make an impact on the price. 2025 is when states will start buying en masse, so it looks to be a very bullish year. I am quite pessimistic about the EU, maybe in Germany they will be the first to think of something but in the rest of the countries the politicians are not aware of any of this. I suppose that when they see dozens of countries creating strategic reserves they will have no choice but to do the same.

I hope that states will not start buying Bitcoins in 2025 because the halving was in 2024, the price is pumping well, ETF approvals were a very good boost for that and then Trump's victory had a very positive impact. We have an amazing environment to have a very good bull run this and next year. After one year, traditionally, there will be a crash and then we will have to wait for the 2028 year for halving to restart the bull market cycle. I think 2028 year is the year when we want states and other countries to start massive buying of Bitcoin because then the price will be high and every next halving makes it difficult for Bitcoin's price to rise like it did in 2016.

[headingnorth]

When it comes adopting innovation and technology, Europe and the EU is always a day late and a dollar short.
Even with electric vehicles, European companies waited years until the market was already flooded with American and Asian EVs before deciding to finally start
building EVs for the consumer market. By that time they lost most of the market share to other countries.

The EU doesn't innovate anything, they just copy everyone else. Pretty soon the EU will become like a third world economy.
By the time EU countries decide to start adopting bitcoin as a strategic reserve, the price they have to pay will be one million dollars per coin LMAO.

[BitJannik]

it's fascinating to see countries like Switzerland and Brazil seriously considering BTC as part of their strategic reserves. In Switzerland, there's an initiative to amend the constitution requiring the Swiss National Bank to hold BTC alongside gold. Advocates argue that this move could enhance Switzerland's financial independence and neutrality distancing it from broader European monetary policies. If successful, it could not set a precedent for other nations to follow.

What do you think about these countries betting on BTC? Is it a bold move toward innovation or a risky gamble?

[BitJannik]

I did quick research and it seems Samuel Kullmann (person on OP's screenshot) have history of supporting Bitcoin[1]. While it's good news, we currently don't know how many law maker who plan to support this idea. I also wonder how their current study on Bitcoin mining[1] would impact support towards this idea.

[1] https://cryptonews.com/news/swiss-lawmakers-study-bitcoin-for-power-grid-upgrade/.

it mean there's potential for more positive momentum in the Swiss political sphere. It's unclear how many lawmakers are on board with this idea and that could really shape its future. The study on BTC mining and its impact on the power grid adds another layer – could it sway opinion further in favor or raise new concerns?

Would this study encourage more lawmakers to support BTC or could it backfire depending on its findings? It seems like there's a delicate balance between innovation and environmental concerns.

[GreatArkansas]

https://www.talkimg.com/images/2024/12/02/pGHk8.png

Switzerland going quicker than the US, okay! But talking about the BRICS, bitcoin is the least of their worries from where they stand. May be they could be the least of all unions to adjust towards making bitcoin as asset reserve which would be until their course is achieved. Consequently, Switzerland taking a move of this kind as proposed by their lawmaker would trigger more sorrounding countries in the adoption process should they start seeing positive impact in these countries economy with bitcoin. El Salvador a good example with what they have profited since the country adopted bitcoin as investment asset.

That's the power of initiative, it's like a virus that spreads!
I already knew that this would happen very soon, after El Salvador started it, a lot of other countries started to look at this kind of possibility, especially now that Bitcoin is already close to $100,000.
Before, gold is aiming for a reserve, but now we are already in the new generation, Bitcoin is the next target for countries reserve.

[Shishir99]

I don't see any problem doing that especially that our needs is more important than anything else out there. For sure many people do the same and what's more important is we still have balance left saved for future. There's still so many chance to recover and what's important for now is we are happy to spend on things that we need.

I also do not regret selling a portion. But I was talking about the future. Imagine Bitcoin reaching 1 million dollars in the future, I might say that I had Bitcoin but I sold them at 93K. Yeah, I agree that when we are in need, we have to sell regardless of the market price. It's not like I think 100K is the maximum price. But I thought this was a good price to sell and I needed some money.

That was obviously just my joke - did you believe for a moment that there was any truth to that?

  Yeah, I did. But as I said in that post, I doubted it because I don't think anything like that could happen even in third-world countries.

[FortuneFollower]

When it comes adopting innovation and technology, Europe and the EU is always a day late and a dollar short.
Even with electric vehicles, European companies waited years until the market was already flooded with American and Asian EVs before deciding to finally start
building EVs for the consumer market. By that time they lost most of the market share to other countries.

The EU doesn't innovate anything, they just copy everyone else. Pretty soon the EU will become like a third world economy.
By the time EU countries decide to start adopting bitcoin as a strategic reserve, the price they have to pay will be one million dollars per coin LMAO.

They already live on the stacks of fat cash and reserves - they don't see reasons to start going for BTC reserves 
That's how I see it, and you are right - with the pace of how it all goes, they may be loosing that one too.

[hero_the_bossman]

https://www.talkimg.com/images/2024/12/02/pGHk8.png

Switzerland going quicker than the US, okay! But talking about the BRICS, bitcoin is the least of their worries from where they stand. May be they could be the least of all unions to adjust towards making bitcoin as asset reserve which would be until their course is achieved. Consequently, Switzerland taking a move of this kind as proposed by their lawmaker would trigger more sorrounding countries in the adoption process should they start seeing positive impact in these countries economy with bitcoin. El Salvador a good example with what they have profited since the country adopted bitcoin as investment asset.

That's the power of initiative, it's like a virus that spreads!
I already knew that this would happen very soon, after El Salvador started it, a lot of other countries started to look at this kind of possibility, especially now that Bitcoin is already close to $100,000.
Before, gold is aiming for a reserve, but now we are already in the new generation, Bitcoin is the next target for countries reserve.

As it was said by ABCbits, it's probably the initiative and thoughts of one man, in the best case - a small group, so it wouldn't change the tide per se in Switzerland to create reserves for BTC.
However, the news is still good - it just becomes a bit fuzzy due to how bullish it is 

[betswift]

I don't see any problem doing that especially that our needs is more important than anything else out there. For sure many people do the same and what's more important is we still have balance left saved for future. There's still so many chance to recover and what's important for now is we are happy to spend on things that we need.

I also do not regret selling a portion. But I was talking about the future. Imagine Bitcoin reaching 1 million dollars in the future, I might say that I had Bitcoin but I sold them at 93K. Yeah, I agree that when we are in need, we have to sell regardless of the market price. It's not like I think 100K is the maximum price. But I thought this was a good price to sell and I needed some money.

Yep - we don't need to mourn it or the opportunity of it - after all, BTC is available all the time.
More time would be needed to regain what you already achieved - and even more, but that's all to it (if we don't count the capital for it, of course).

[Odohu]

This is definitely the "Trump effect" and I believe we will see many governments and institutions joining soon. The moment Trump made those pronouncements during the campaigns and eventually won the election, I knew that so many good things will happen for Bitcoin. We are already seeing the signs from many countries including Brazil and now Switzerland. I think other nations will follow suit as no one want to be late to the party except some African countries that are still fighting Bitcoin instead of embracing it. Now the whole world is busy studying the opportunities in Bitcoin and working out ways of keying into it but my country is still cracking down on Bitcoin and platforms that offer Bitcoin related services. Maybe we will join when Bitcoin reaches $1 million. I'm just happy that despite the crackdown by our government, the citizens are not deterred as many of them are buying stashing Bitcoin.

[fikrett]

This is definitely the "Trump effect" and I believe we will see many governments and institutions joining soon. The moment Trump made those pronouncements during the campaigns and eventually won the election, I knew that so many good things will happen for Bitcoin. We are already seeing the signs from many countries including Brazil and now Switzerland. I think other nations will follow suit as no one want to be late to the party except some African countries that are still fighting Bitcoin instead of embracing it. Now the whole world is busy studying the opportunities in Bitcoin and working out ways of keying into it but my country is still cracking down on Bitcoin and platforms that offer Bitcoin related services. Maybe we will join when Bitcoin reaches $1 million. I'm just happy that despite the crackdown by our government, the citizens are not deterred as many of them are buying stashing Bitcoin.

It would start discussions for sure - I totally agree, and maybe, just maybe, in some cases, it would work out for real so that BTC would be regarded in a different light out there in the world and big countries especially.
Let's see and cross our fingers for that to happen.

[Shishir99]

Yep - we don't need to mourn it or the opportunity of it - after all, BTC is available all the time.

Not as cheap as it was before. Everyone could have bought Bitcoin when it was below $100 dollars. But most of them did not know about Bitcoin. Let's say a lot of them knew, but they did not take want to the risk of having internet money. People who decided to take a risk and try Bitcoin back then, some of them are millionaires. Probably some of them are billionaires at this moment. Who knows?

BTC will be available in the future as well. But we don't know how much it will be worth. But I am giving you a guarantee that it will be more expensive in the future.