Switzerland remains one of the most crypto-forward countries, demonstrating a stable economy and a high level of Bitcoin adoption.
Switzerland as a Crypto Hub
Switzerland is a leading country in actively integrating cryptocurrency into its economy. There are over 1.6 million residents who hold Bitcoin or other cryptocurrencies. However, Bitcoin is not yet legal tender. Instead, Switzerland is crafting its own strategic approach. Since 2013, the canton of Zug, known as 'Crypto Valley,' has attracted blockchain startups. According to information from JAN3, the Lugano's Plan ₿ initiative has gained significant traction, with over 260 merchants now accepting BTC.
Bitcoin and Renewable Energy
Switzerland's unique energy system presents interesting opportunities for Bitcoin integration. The country derives 60% of its capacity from hydroelectric sources, creating surplus renewable energy, especially in winter. A recent study commissioned by the Bern Grand Council is exploring the use of Bitcoin mining to stabilize the electric grid and generate new revenue. Political groups such as MASS-VOLL! are advancing pro-Bitcoin initiatives.
Paths to Financial Sovereignty
In December 2024, a Bitcoin Initiative was launched to include BTC in the Swiss National Bank’s reserves. It requires gathering 100,000 signatures by June 2026 to trigger a national referendum. While no major political party currently endorses Bitcoin, Switzerland already offers tax perks, including no capital gains tax for individuals and no VAT on crypto transactions. If successful, this initiative could position Switzerland as a leader in both Bitcoin adoption and green energy-powered mining.
Switzerland has demonstrated active steps towards integrating Bitcoin into its economy. The successful advancement of the initiative could strengthen the country's financial sovereignty for decades to come.
