Swiss policymaker Samuel Kullmann secured a large majority vote for a study on Bitcoin mining aimed at optimizing local electricity infrastructure.
According to Bitcoin (BTC) advocate Dennis Porter, Kullmann’s proposal was adopted on November 28 and could steer Switzerland towards BTC adoption.
Bitcoin Policy will now explore how the world’s largest decentralized proof-of-work blockchain can stabilize the Swiss energy grid and “utilize otherwise wasted energy.” Kullmann’s proposal was adopted by 85 votes to 46 in the Swiss Parliament.
The Swiss journey to Bitcoin
The politics around Bitcoin in Switzerland come as no surprise, as the BTC halving has generated enormous interest from Swiss citizens. Zurich, Switzerland’s largest city, ranked top in BTC searches halved on Google, crypto.news reported in April.
Despite the approval of spot BTC exchange-traded funds in the United States months ago, Europe dominated Google’s queries for information on the trillion-dollar cryptocurrency and its code changes. The BTC mining reward is reduced by 50% every four years to maintain scarcity and contain inflation.
Last August, financial documents revealed that the Swiss Central Bank had purchased MicroStrategy shares. As the largest holder of BTC with a treasury of $35 billion, purchasing MSTR can provide investors with indirect exposure to the trending digital asset.
Global Adoption
BTC policy has accelerated around the world in 2024, coinciding with growing global inflation concerns and greater institutional demand for BTC. Lawmakers in the United States and Brazil have both proposed creating strategic national BTC reserves.
Vancouver Mayor Ken Sim has also advocated for diversifying the city’s investments by holding BTC on its sovereign balance sheet. Companies around the world have allocated millions of dollars to BTC treasuries, following the model established by Michael Saylor’s software giant.
