Swiss legislator Samuel Kullmann achieved a substantial majority for a Bitcoin mining study focused on enhancing local power systems.

As per Bitcoin (BTC) supporter Dennis Porter, Kullmann’s initiative received approval on November 28 and may pave the way for increased BTC adoption in Switzerland.

The Bitcoin initiative will investigate how the largest decentralized proof-of-work blockchain can help stabilize the Swiss energy grid and “utilize otherwise wasted energy.” Kullmann’s proposal was approved with a vote of 85 to 46 in Switzerland’s Parliament.

Switzerland’s Journey to Bitcoin

Legislation concerning Bitcoin in Switzerland is unsurprising, especially given the notable interest in BTC during the halving event. Zurich, the largest city in Switzerland, topped Google search interest for the BTC halving, according to a report by crypto.news in April.

Even with the earlier approval of a U.S. spot BTC exchange-traded fund, Europe led Google searches for information about the trillion-dollar cryptocurrency and its protocol changes. The BTC mining reward is halved every four years to maintain scarcity and control inflation.

In August, financial disclosures indicated that the Swiss Central Bank purchased shares in MicroStrategy. As the largest corporate BTC holder with a $35 billion treasury, acquiring MSTR could provide investors with indirect exposure to this rising digital asset.

Global Adoption

BTC policy development accelerated worldwide in 2024 alongside increasing global inflation worries and heightened institutional interest in BTC. Legislators in both the U.S. and Brazil have introduced proposals to establish strategic national BTC reserves.

Ken Sim, Mayor of Vancouver, also advocated for diversifying the city’s financial assets by including BTC in its sovereign balance sheet. Companies around the globe have allocated millions toward BTC treasuries, following the precedent set by Michael Saylor’s software company.