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

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.

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.

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.

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

  :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.

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.

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.

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.

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.

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

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.

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'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.

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.

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.

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

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.

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/.

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.

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.

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.

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.

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?

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

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.

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.
 

BIS: Major Banks to Disclose Crypto Holdings from 2025
    The global banking regulators have proposed standardized crypto disclosure for the industry.
    BIS aims to enhance market transparency and investor confidence.

The global banking regulators have taken a significant step towards increasing transparency in the financial sector. The Basel Committee, comprising banking regulators from major global financial hubs, has introduced a proposal to enforce standardized disclosure of crypto assets by major banks starting from January 2025.

This move aims to bolster "market discipline" by offering investors a comprehensive view of banks' crypto holdings and activities. The Basel Committee, one of the Bank for International Settlements' (BIS) committees, took this step after establishing new rules in December last year that dictate the amount of capital banks must maintain to cover various categories of crypto assets.
BIS' Crypto Asset Reporting Framework

According to a statement on BIS' website, the Basel Committee has released a new framework for public consultation, outlining how banks should report their crypto asset holdings to the public.

According to the proposal, banks must provide qualitative and quantitative information regarding their dealings with crypto assets. This information will encompass details on their exposure to crypto assets, the corresponding capital and liquidity requirements, and the activities related to these digital assets.

The Basel Committee stated: "Banks would also be required to provide details of the accounting classifications of their exposures to crypto assets and crypto liabilities. The committee expects that a common format for disclosures will support the exercise of market discipline and help to reduce information asymmetry between banks and market participants."

And so the Trump effect is still in the air,

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.

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.

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.

Investing in bitcoin is not a big risk, if the government of different countries are investing in gold as reserves for their national tresury, what do you really think makes investing in bitcoin more risky?

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.

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.

Only what we want is for United States to begin bitcoin strategic reserve. It will not be too late when Europe Union will consider such move in my opinion.

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.

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.