
Swiss lawmaker Samuel Kullmann achieved a significant majority vote for a study on Bitcoin mining, aimed at enhancing local energy infrastructure.
As per Bitcoin (BTC) supporter Dennis Porter, Kullmann’s initiative was approved on November 28 and may guide Switzerland towards the adoption of BTC.
The Bitcoin policy will investigate how the leading decentralized proof-of-work blockchain can aid in stabilizing the Swiss energy grid and “utilize otherwise wasted energy.” Kullmann’s proposition was accepted following an 85:46 vote in the Swiss Parliament.
Switzerland’s Journey to Bitcoin
The emergence of Bitcoin policy in Switzerland is not unexpected, especially given the substantial interest demonstrated by Swiss citizens around the BTC halving. Zurich, being the largest city in Switzerland, topped the charts for BTC halving-related searches on Google, as reported by crypto.news in April.
In spite of the approval of a U.S. spot BTC exchange-traded fund months earlier, Europe led Google search queries regarding the trillion-dollar cryptocurrency and its code modifications. The BTC mining reward is halved every four years to preserve scarcity and manage inflation.
In August, financial disclosures indicated that the Swiss Central Bank had acquired shares in MicroStrategy. As the largest corporate holder of BTC with a $35 billion treasury, purchasing MSTR might offer investors indirect exposure to this burgeoning digital asset.
Global Adoption
The momentum for BTC policy escalated across the globe in 2024, coinciding with rising global inflation anxieties and increased institutional appetite for BTC. Lawmakers in both the U.S. and Brazil put forth proposals for creating strategic national BTC reserves.
Vancouver’s Mayor Ken Sim also advocated for diversifying the city’s investments by incorporating BTC into its sovereign balance sheet. Companies worldwide allocated millions to BTC reserves, inspired by the model set by Michael Saylor’s software enterprise.