- Samuel Kullmann, a Swiss lawmaker, won a resounding majority vote in favor of a Bitcoin mining research that aims to optimize local electricity infrastructure.
Dennis Porter, a proponent of Bitcoin, claims that Kullmann’s plan, which was approved on November 28, may help lead Switzerland to embrace Bitcoin.
The Bitcoin policy will now investigate how the largest decentralized proof-of-work blockchain in the world may use energy that would otherwise be wasted and stabilize the Swiss energy grid. The Swiss Parliament voted 85:46 in favor of Kullmann’s motion.
The journey to Bitcoin in Switzerland
Given that Swiss citizens showed a great deal of interest in Bitcoin after its halving, the country’s policy toward it is not surprising. According to an April report by crypto.news, Zurich, the biggest city in Switzerland, was the top search result for BTC halving on Google.
Europe dominated Google searches for information about the trillion-dollar cryptocurrency and its code revisions, even though the U.S. had approved spot Bitcoin exchange-traded funds months before. In order to preserve scarcity and control inflation, the Bitcoin mining incentive is reduced by 50% every four years.
According to financial documents, the Swiss Central Bank purchased MicroStrategy stock back in August. Purchasing MSTR might give investors indirect exposure to the popular digital commodity, as it is the biggest corporate Bitcoin holder with a $35 billion treasury.
Worldwide adoption
In 2024, as fears about inflation grew globally and institutional demand for Bitcoin increased, BTC policy accelerated globally. Both Brazilian and American lawmakers suggested setting up strategic national Bitcoin reserves.
Ken Sim, the mayor of Vancouver, added that the city should diversify its investments by keeping Bitcoin on its sovereign balance sheet. Following the paradigm set by Michael Saylor’s software giant, corporations from all over the world invested millions of dollars in Bitcoin treasuries.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
