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

BitJannik

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Quote from: Odohu on December 04, 2024, 02:51:05 AM

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's exciting to see how BTC is gaining momentum globally and its hard to ignore how political shifts like Trump's support for crypto. For example, Brazil is discussing a law to allocate part of its reserves BTC aiming for financial independence and reduced reliance on the $.

its frustrating when some countries remain resistant

Btcdeybodi

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What we want now is action and not any random statement from anyone. However, if America finally implement bitcoin as a strategic reserve, many countries will join in adopting bitcoin as their strategic reserve currency as well. Switzerland is one country that is very strict with their laws and regulations and i haven't heard of the Swiss government supporting cryptocurrency but since most countries that didn't give bitcoin support in the past are now considering having it as a strategic reserve, who knows the Swiss government might make a U-turn and embrace bitcoin just like other countries are doing because they wouldn't want to be left behind.

?

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Quote from: Shishir99 on December 05, 2024, 02:13:05 AM

Quote from: Lucius on December 04, 2024, 07:51:33 AM

Considering that the newly elected president is a man who has (or had) as many as 37 indictments, nothing from him will surprise me in the next 4 years. As for third world countries, much worse things happen there - for example, I live in a country in the EU where, in the last 8 years, around 30 ministers from one party have been accused and dismissed for bribery and corruption, and yet the same party continues the support of the people Roll Eyes

Haha. Bro, you talk about 30 ministers?
In my country, there are no ministers without corruption and bribery and corruption. They provide some documents before the election where they mention their assets and liquid money, most of them have around 15K worth of assets on average. But after end of their period, most of them becomes billionaire and this has been happening here in my country for a couple of decades. I think you cannot even imagine what I am talking about. We think EU countries are far more developed than us.

We all have the same problems - but on different scales.
Going into that territory would be a bit off-topic, but I agree with you both.
Politics is a swampy mess.
Roll Eyes

betswift

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Quote from: EarnOnVictor on December 04, 2024, 06:25:53 AM

How I wish this is true!

Well, we should at this point stop being childish about everything we see online, X and other social media outlets are full of unverified claims orchestrated for traffic purposes and I don't know why many people on Bitcointalk also post such things when there is no single reliable news outlet backing it up.

I tried to dig into this claim but found nothing substantial. I even followed through to the subsequent X's quote-in-quote posts but still did not find anything to link it directly to this lawmaker.

People love news.
People love flashy news even more.
And flashy news on Twitter? Don't get me started Grin

Shishir99

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Quote from: Lucius on December 04, 2024, 07:51:33 AM

Considering that the newly elected president is a man who has (or had) as many as 37 indictments, nothing from him will surprise me in the next 4 years. As for third world countries, much worse things happen there - for example, I live in a country in the EU where, in the last 8 years, around 30 ministers from one party have been accused and dismissed for bribery and corruption, and yet the same party continues the support of the people Roll Eyes

Haha. Bro, you talk about 30 ministers?
In my country, there are no ministers without corruption and bribery and corruption. They provide some documents before the election where they mention their assets and liquid money, most of them have around 15K worth of assets on average. But after end of their period, most of them becomes billionaire and this has been happening here in my country for a couple of decades. I think you cannot even imagine what I am talking about. We think EU countries are far more developed than us.

Lucius

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Quote from: headingnorth on December 03, 2024, 07:39:56 PM

~snip~
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.

It also seems to me that you are not far from the truth - the EU is too sluggish and conservative on some issues at its highest level - although some state members try to implement their policies and do not always agree with the policies imposed by Brussels. One of the candidates for Polish president reportedly stated a few days ago that Poland should include BTC in its strategic reserves.

Quote from: Shishir99 on December 04, 2024, 02:19:48 AM

Quote from: Lucius on December 03, 2024, 06:49:03 AM

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

:D

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.

Considering that the newly elected president is a man who has (or had) as many as 37 indictments, nothing from him will surprise me in the next 4 years. As for third world countries, much worse things happen there - for example, I live in a country in the EU where, in the last 8 years, around 30 ministers from one party have been accused and dismissed for bribery and corruption, and yet the same party continues the support of the people Roll Eyes

EarnOnVictor

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Quote from: Jating on December 02, 2024, 03:50:27 AM

https://x.com/samuelkullmann/status/1863336544305557661

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.

How I wish this is true!

Well, we should at this point stop being childish about everything we see online, X and other social media outlets are full of unverified claims orchestrated for traffic purposes and I don't know why many people on Bitcointalk also post such things when there is no single reliable news outlet backing it up.

I tried to dig into this claim but found nothing substantial. I even followed through to the subsequent X's quote-in-quote posts but still did not find anything to link it directly to this lawmaker.

fikrett

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Quote from: Yaunfitda on December 04, 2024, 04:10:59 AM

Quote from: Shishir99 on December 04, 2024, 03:35:25 AM

Quote from: betswift on December 04, 2024, 02:31:56 AM

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.

And being expensive means that we will all have to fight it out because it's going to be highly demand because every 4 years, the supply is going to be scarce because of the halving. So now, we have to fight it out not just with institutions but with government as well when some of them are looking at it as Bitcoin reserved.

But still though, we still have some time, it doesn't mean that we need to get 1 BTC right away, because admit it or not. Majority of us here doesn't have that money because we are just average joe retail investors. But we can work it out like buying in small units and then HODL on it and save for the future.

Agreed.
Even though there is probably no possibility to get one BTC - you would still be able to learn about it, know more about it, and have some of it, while investing in it while you can.
Time is cruel, we need to grab our opportunity while we still can Cool

FortuneFollower

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Quote from: Shishir99 on December 04, 2024, 03:35:25 AM

Quote from: betswift on December 04, 2024, 02:31:56 AM

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.

That's why you can spend the same amount (100$ for example) on BTC and still get a profit.
Let's face it, if you turned your 100$ into 1000$ - you would get off the hook on the market.
Now that would be only +30-40% during the bull - and that would be enough for some.
Others would be able to hold for 2-3 cycles which would be about 10 years - and get much more.
It all depends on the goals you have in your mind.
You would get less BTC - but it would still be BTC.

Yaunfitda

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Quote from: Shishir99 on December 04, 2024, 03:35:25 AM

Quote from: betswift on December 04, 2024, 02:31:56 AM

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.

And being expensive means that we will all have to fight it out because it's going to be highly demand because every 4 years, the supply is going to be scarce because of the halving. So now, we have to fight it out not just with institutions but with government as well when some of them are looking at it as Bitcoin reserved.

But still though, we still have some time, it doesn't mean that we need to get 1 BTC right away, because admit it or not. Majority of us here doesn't have that money because we are just average joe retail investors. But we can work it out like buying in small units and then HODL on it and save for the future.

Shishir99

hero member

Activity: 840

Merit: 522

Quote from: betswift on December 04, 2024, 02:31:56 AM

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.

fikrett

copper member

Activity: 126

Merit: 6

Quote from: Odohu on December 04, 2024, 02:51:05 AM

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.

Odohu

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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.

betswift

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Activity: 280

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Quote from: Shishir99 on December 04, 2024, 02:19:48 AM

Quote from: ultrloa on December 03, 2024, 05:06:34 AM

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).

?

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Quote from: GreatArkansas on December 03, 2024, 09:50:00 PM

Quote from: Familian on December 02, 2024, 10:09:24 AM

Quote from: Jating on December 02, 2024, 03:50:27 AM

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 Grin

FortuneFollower

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Quote from: headingnorth on December 03, 2024, 07:39:56 PM

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 Grin

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.

Shishir99

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Quote from: ultrloa on December 03, 2024, 05:06:34 AM

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.

Quote from: Lucius on December 03, 2024, 06:49:03 AM

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

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.

GreatArkansas

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Quote from: Familian on December 02, 2024, 10:09:24 AM

Quote from: Jating on December 02, 2024, 03:50:27 AM

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.

BitJannik

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Quote from: ABCbits on December 02, 2024, 04:30:12 AM

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.

BitJannik

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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?

Topic: Just In: Swiss law maker says "Switzerland needs a Strategic Bitcoin Reserve!" (Read 447 times)