The trade war isn’t just cartoonish bluster about tariffs and trade deficits. It’s the equivalent of a huge, flashing neon sign. It cautions us against the risks of over-dependence on a single currency or economic area. What we’re witnessing now is in many respects the unprecedentedly easy weaponizing of economic pressure. And Switzerland, known for its neutrality and financial prudence, needs to consider a radical form of insurance: Bitcoin.
Diversify Or Die Economically Speaking?
Let's be blunt: Switzerland's current reliance on the dollar and euro is a vulnerability. The Swiss National Bank (SNB)—which, like the PBoC, holds the vast majority of its reserves in US and European currencies—this can leave them at the mercy of monetary policies set by central banks in these regions. As we saw with the pandemic, the world is rapidly changing to a new multipolar economic order. To continue looking backward is a recipe for disaster.
Think of it like this: you wouldn't put all your eggs in one basket, would you? So why should a country’s economic prosperity be held hostage by the whims of central bankers half a world away?
Switzerland has long touted its own neutrality. True independence is not merely political neutrality – it is economic sovereignty. That's precisely what Bitcoin offers. The referendum would require the SNB to buy and store Bitcoin. This move is about more than just making a buck, it’s about making sure all Americans are economically secure!
Bitcoin Stability? Hear Me Out.
I know what you're thinking: "Bitcoin? Volatile? Stable? Those words don’t belong in the same sentence!" And you're right, to a point. Bitcoin's price fluctuations can be stomach-churning. But consider this: is the "stability" of the dollar or euro really that stable when it can be manipulated by political agendas and endless money printing?
SNB Chairman Martin Schlegel concerned about bugs and vulnerabilities in crypto software. Those are valid concerns. Software can be flawed. So can economic policy. Just look at the recent banking crisis. Rules, checks and balances, and self-defeating bailouts are human, but they’re software in a different sense.
With all of its volatility, bitcoin is unique in that it does follow the strict rules of a known, public algorithm. Its supply is capped. It’s not vulnerable to the kind of short-term political pressures that are often able to undermine the value of fiat currencies. In an era of market distortion and complex financial networks, that’s some serious stability. It's digital gold that nobody can confiscate. Or control.
The Swiss have learned a great deal in their own experimentation with digital assets, and this is a good thing. The promulgation of the new Swiss Distributed Ledger Technology (DLT) Act is a positive development in this regard. So too is the development of a wholesale CBDC. Even these initiatives are quite centralized, as they remain under the control of the SNB. Bitcoin, in contrast, is completely decentralized, providing the ultimate protection from government meddling.
Economic Justice For All.
This isn't just about Switzerland. The concept of a developing nation diversifying its reserve holdings into Bitcoin should be something that excites all of us, and particularly those from a developing nation. Imagine countries that are dealing with hyperinflation or authoritarian governments that keep a tight hold over their currency. For many, Bitcoin provides a lifeline, an opportunity to circumvent rotten institutions and engage in a broader and more connected global economy.
This is an opportunity to deconstruct neo-colonial economic orders. By and large, powerful nations set the agenda on trade negotiations and largely control today’s global financial system. In this sense, bitcoin is a great equalizer. It puts real power in the hands of countries and people to help them shape their own economic fate.
So, what's the play here? Here’s why I think that Switzerland would be wise to seize on this counterintuitive opportunity. The SNB’s decision to add Bitcoin to their reserves is a smart financial play. It’s about sending a strong message about economic independence and opening up the real possibility of a more equitable global financial architecture. Here is your moment to help save our country’s future. Do this, and you will lead the way in a world that’s increasingly wary of concentrated power.
Are you ready to embrace the future? Are you ready to support economic freedom? The time to act is now. Think about how you can contribute to help build the DeFi space and movements that enrich our communities and allow for greater economic self-determination. The future of finance is here. Are you in?
