crypto.news
Swiss policymaker Samuel Kullmann secured a sweeping majority vote for a Bitcoin mining study aimed at optimizing local power infrastructure.
According to Bitcoin ($BTC) advocate Dennis Porter, Kullmann’s proposal passed on Nov. 28 and could steer Switzerland toward $BTC adoption.
The Bitcoin policy will now explore how the world’s largest decentralized proof-of-work blockchain can stabilize the Swiss energy grid and “use otherwise wasted energy.” Kullmann’s proposal passed following an 85:46 vote in Switzerland’s Parliament.
With a clear verdict of 85 to 46 votes the parliament of @kanton_bern demands a report on the potential of #Bitcoin mining to stabilize our #energygrid and the use of otherwise wasted #energy.
— Samuel Kullmann (@samuelkullmann) November 28, 2024
The proposal was co-sponsored by @simonryser (Green Liberal Party), @KorabRashiti1… pic.twitter.com/WnTNzNdPi4
The Swiss trek to Bitcoin
Policy around Bitcoin in Switzerland comes as no surprise, as the $BTC halving proved massive interest from Swiss citizens. Zurich, the largest Swiss city, ranked top for $BTC halving searches on Google, crypto.news reported in April.
Despite U.S. spot $BTC exchange-traded fund approval months prior, Europe dominated Google queries for info on the trillion-dollar cryptocurrency and its code changes. The $BTC mining reward is cut by 50% every four years to maintain scarcity and contain inflation.
Back in August, financial records revealed that the Swiss Central Bank bought MicroStrategy shares. As the largest corporate $BTC holder with a $35 billion treasury, buying MSTR may afford investors indirect exposure to the trending digital asset.
Global adoption
$BTC policy accelerated worldwide in 2024, coinciding with growing global inflation concerns and greater institutional demand for $BTC. Lawmakers in the U.S. and Brazil both proposed creating strategic national $BTC reserves.
Vancouver’s Mayor Ken Sim also argued for diversifying the city’s investments by holding $BTC on its sovereign balance sheet. Corporations in corners of the globe allocated millions of dollars to $BTC treasuries, following the model established by Michael Saylor’s software giant.