Swiss Push for Bitcoin in Central Bank Reserves | by Saad Jameel | The Capital | Jan, 2025

I just read something fascinating about Switzerland that blew my mind. The Swiss National Bank is actually considering backing their currency with Bitcoin. Can you believe it? They’re typically pretty conservative, so this is huge news.

From what I understand, it all started behind the scenes at Switzerland’s banks. Some forward-thinking folks at the SNB had been watching Bitcoin’s rise and thought, “Hey, maybe there’s something here beyond just another cryptocurrency.” They saw real potential to upgrade their entire payment system.

Now that they’ve officially put this proposal on the table, everyone’s talking about it. People are saying this could make Switzerland the go-to place for crypto innovation, which makes sense given their reputation for being at the cutting edge of banking.

But let’s be real — they’ve got their work cut out for them. There are so many regulations to figure out, not to mention the technical headaches of making Bitcoin work on a national scale. You’d need some serious infrastructure to pull this off.

The SNB itself seems pretty divided on this. Some higher-ups are comparing it to when they first introduced the Swiss franc — you know, one of those watershed moments in banking history. But others are worried about Bitcoin’s wild price swings and whether it makes…