Bitcoin as a reserve asset: Is Europe waking up too late while the US is getting serious?

For a long time, it was just a “Bitcoin maximalist” fairy tale, but in January 2026, it arrived in real politics: the strategic Bitcoin reserve. While the US government, under the new regulatory framework, is beginning to officially declare Bitcoin as a strategic reserve asset, a burning question arises in the DACH region: Has Switzerland squandered its historical lead?

The numbers are impressive: Estimates suggest that the US now holds over 200,000 BTC in its holdings. But the paradigm shift lies not in the quantity, but in the intention. Away from “confiscated goods” and towards “strategic digital gold.”

The “Lummis wave” reaches the Bundesplatz in Bern

In Switzerland, a broad alliance of economists and parliamentarians is currently forming, demanding an addition to the National Bank’s reserves. The argument: If Bitcoin is the digital gold of the 21st century, a nation whose stability is based on gold reserves must not miss this trend.

• The popular initiative: The Bitcoin Initiative in Switzerland, which already made headlines in 2024 and 2025, is gaining massive ground in the current environment. The goal is to include Bitcoin in Article 99 of the Federal Constitution – directly next to gold. (the collection period ends on 06/30/26, by the way)
• The SNB pressure: The Swiss National Bank (SNB) is showing its usual restraint. But experts warn: Should other central banks start actively buying BTC, the price for Switzerland to enter could skyrocket.

Germany: From “seller” to “spectator?”

A look across the border to Germany reveals a painful picture for Bitcoin fans. The memory of the summer of 2024, when the state of Saxony sold around 50,000 BTC for approximately 2.8 billion euros, runs deep. At today’s rate of over $87,000 USD (as of 01/25/2026), this holding would be worth over 4.3 billion euros. The political debate in the Bundestag has turned. Where warnings about volatility used to dominate, today you hear voices calling for Bitcoin as a hedge against the devaluation of the euro. Germany, and also Europe, is in danger of being left behind here by US policy.

Why a reserve makes sense today (and why not)

Critics continue to cite volatility. But the proponents in the DACH region argue with game theory:

1. First-Mover-Advantage: Those nations that are the first to shift part of their reserves into a limited commodity like Bitcoin benefit disproportionately from the global increase in value.
2. Digital Sovereignty: In a world of trade wars (see current tariff issues), Bitcoin offers censorship-resistant store of value that operates independently of US dollar-centric clearing systems.
3. Diversification: Gold remains important, but Bitcoin offers an asymmetric return opportunity that justifies the risk of a small portfolio share (e.g. 1–3%).

An example of how other countries deal with Bitcoin is Bhutan – the Bitcoin Kingdom. The country in the Himalayas has been relying on Bitcoin for a long time.

Conclusion: The “endgame” of fiat currencies?

The discussion about strategic reserves is the ultimate accolade for Bitcoin. It is no longer about whether Bitcoin is “real money”, but who owns how much of it in order to have a say in the global economic order of the next 20 years. For investors in the DACH region, this is a bullish signal. When states start thinking about buying programs, the “crash to zero” risk virtually disappears completely. Bitcoin is becoming a political issue – and Switzerland must decide whether it wants to be a pioneer again or just a follower this time.

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