- News on the Blockchain
- Posts
- Happy New Year! | Switzerland Considers Integrating Bitcoin into National Reserves
Happy New Year! | Switzerland Considers Integrating Bitcoin into National Reserves
Happy new year from the team here at News on the Blockchain.
News on the Blockchain
January 01, 2025
🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 773
Market Cap: $3.26T (-0.51%)
24h Volume: $99.91B (-28.13%)
Bitcoin Dominance: 56.74% (+0.04%)
Ethereum Dominance: 12.33%
ETH Gas Price: Average
Fear & Greed Index: 49 (Neutral)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $93,085.39 | -0.89% | $1.84T | $36.52B |
Ethereum (ETH) | $3,321.17 | -1.86% | $400.12B | $18.70B |
Tether (USDT) | $0.9981 | -0.03% | $137.18B | $78.85B |
BNB (BNB) | $702.86 | +0.10% | $100.96B | $2.25B |
Solana (SOL) | $188.30 | -2.28% | $90.92B | $2.95B |
💹 Market Highlights:
Total DeFi Volume: $6.91B (6.92% of total market volume)
Stablecoins Volume: $90.64B (90.72% of total market volume)
Coin with highest % change: Kekius/SOL +5601%
📈 Preview On Today’s News:
- Switzerland Considers Integrating Bitcoin into National Reserves
- Vitalik Buterin Urges Elon Musk to Moderate Free Speech Practices.
- Franklin Templeton Forecasts Robust Cryptocurrency Growth and Institutional Integration by 2025
Keep reading below for more!
Today’s News:
1)
Switzerland Considers Integrating Bitcoin into National Reserves
Switzerland is exploring the groundbreaking proposal to include Bitcoin (BTC) in its national reserves, spearheaded by Giw Zanganeh, Vice President of Energy and Mining at Tether. This initiative aims to amend the Swiss constitution, currently mandating a portion of reserves in gold, to allow Bitcoin as a reserve asset. If successful, it would mark a historic shift in Switzerland’s financial landscape, reinforcing its legacy as a crypto-friendly nation and positioning it at the forefront of digital currency adoption. The proposal requires 100,000 citizen signatures by June 30 and subsequent approval by the Swiss Federal Assembly. This move aligns with a global trend, as other countries like Germany, Russia, and Canada also consider adding Bitcoin to their reserves, reflecting the increasing recognition of cryptocurrencies as legitimate financial instruments.
Proposal and Process: Switzerland plans to amend its constitution to include Bitcoin in the Swiss National Bank’s reserves, requiring 100,000 citizen signatures by June 30 for review by the Federal Assembly.
Global Context and Impact: If approved, Switzerland would lead in national Bitcoin adoption, joining other nations like Germany and Canada in recognizing cryptocurrencies as significant financial assets.
2)
Vitalik Buterin Urges Elon Musk to Moderate Free Speech Practices.
Ethereum co-founder Vitalik Buterin has publicly called on Elon Musk to temper his approach to free speech and the use of the "banhammer" on the social media platform X, particularly regarding debates over hiring foreign tech workers in the US. While acknowledging Musk’s dedication to free speech, Buterin emphasized the need for a more balanced tone to prevent polarized discourse within the crypto community. This confrontation highlights ongoing tensions surrounding platform governance and expression in the cryptocurrency space. Simultaneously, the crypto market remains active with new developments, including token launches like SONIC on the Solana ecosystem, regulatory proposals such as Switzerland's initiative for the national bank to hold Bitcoin, and significant movements in altcoins like XRP, DOGE, and SHIB. These events illustrate the vibrant and evolving nature of the cryptocurrency landscape as stakeholders navigate both challenges and opportunities in 2025.
Buterin Criticizes Musk: Vitalik Buterin urged Elon Musk to moderate his free speech policies and use of the "banhammer" on X, highlighting the impact on public discourse within the crypto community.
Active Crypto Developments: The cryptocurrency market is experiencing significant activity with new token launches, regulatory initiatives, and notable advancements in altcoin performance and blockchain technologies.
3)
Franklin Templeton Forecasts Robust Cryptocurrency Growth and Institutional Integration by 2025
Franklin Templeton, a leading global asset management firm managing $1.5 trillion, has projected a positive future for Bitcoin and altcoins by 2025, driven by enhanced regulatory clarity, increased institutional adoption, and technological advancements. The firm anticipates that U.S. regulators, including the SEC, will approve a broader array of crypto-related financial products, such as crypto ETFs and tokenized securities, thereby reestablishing the United States as a global center for crypto innovation. Additionally, traditional financial institutions are expected to enter the crypto market, supported by a stablecoin regulatory framework. Bitcoin is forecasted to strengthen its position as a digital store of value through widespread institutional and sovereign adoption, while the integration of AI with blockchain technology is set to enhance transparency and propel the growth of the AI-driven economy.
Regulatory and Institutional Growth: U.S. regulators are expected to approve diverse crypto financial products, attracting traditional financial institutions to the crypto space and positioning the U.S. as a global crypto innovation hub.
Bitcoin and Technological Advancements: Bitcoin will solidify its role as a digital store of value with increased institutional and sovereign adoption, while the convergence of AI and blockchain technology will enhance transparency and drive economic expansion.
