A proposal to amend the Swiss constitution to include Bitcoin in the Swiss National Bank's (SNB) official reserves has failed to gather enough support. The initiative, which required 100,000 valid signatures to trigger a national referendum, only managed to collect approximately half of the necessary signatures within the 18-month deadline. Proponents of the initiative argued that Bitcoin could serve as a "neutral reserve asset" to hedge against risks associated with the SNB's current U.S. dollar and euro reserves. The SNB had previously rejected the proposal, citing concerns over Bitcoin's liquidity and volatility, which it deemed incompatible with central bank reserve asset requirements. Currently, U.S. dollar and euro assets constitute about 75% of the SNB's foreign exchange reserves.