Bitcoin Campaign to Force SNB Holdings Has Failed, Reuters Says

(Bloomberg) — Swiss crypto campaigners have abandoned a bid to require the central bank to hold Bitcoin after failing to collect enough signatures to trigger a plebiscite, Reuters reported.

“We ⁠knew from the beginning that it was a long shot,” the news service cited campaign founder Yves Bennaim as saying. “For now, we are going to let the initiative lapse.”

The Bitcoin Initiative sought to oblige the Swiss National Bank to hold the cryptocurrency in its reserves alongside the euro, the dollar and gold. The group of enthusiasts only managed to get about half of the 100,000 signatures needed to force a vote of the electorate on the matter, Reuters said.

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