Swiss legislator Samuel Kullmann achieved a decisive majority vote for a Bitcoin mining study designed to enhance local power infrastructure.
Bitcoin (BTC) proponent Dennis Porter noted that Kullmann’s proposal was approved on Nov. 28, which may lead Switzerland towards greater BTC adoption.
The Bitcoin initiative will investigate ways the largest decentralized proof-of-work blockchain can help stabilize the Swiss energy grid and “utilize otherwise wasted energy.” Kullmann’s proposal was adopted following an 85:46 vote in the Swiss Parliament.
Switzerland’s Journey to Bitcoin
Legislation concerning Bitcoin in Switzerland aligns with the significant interest demonstrated by Swiss citizens during the BTC halving. Zurich, the largest city in Switzerland, topped the list for BTC halving searches on Google, as reported by crypto.news in April.
In spite of the U.S.’s spot BTC exchange-traded fund approval occurring months earlier, Europe led Google inquiries regarding this trillion-dollar cryptocurrency and its code alterations. The BTC mining rewards are halved every four years to foster scarcity and manage inflation.
Earlier in August, financial documents indicated that the Swiss Central Bank acquired shares in MicroStrategy. As the largest corporate BTC holder with a treasury valued at $35 billion, investing in MSTR may provide investors with indirect exposure to this trending digital asset.
Global Acceptance
BTC policy gained momentum globally in 2024, in parallel with rising concerns over inflation and increased institutional appetite for BTC. Lawmakers in the U.S. and Brazil have both introduced measures to establish strategic national BTC reserves.
Ken Sim, the Mayor of Vancouver, has also advocated for diversifying the city’s investments by incorporating BTC into its sovereign balance sheet. Companies across the globe have allocated millions to BTC treasuries, mirroring the strategy pioneered by Michael Saylor’s software enterprise.
