The effort to get the Swiss National Bank to hold Bitcoin has failed.

CoinFeed reported on May 9th that, according to Reuters, crypto advocates attempting to push for the Swiss National Bank to hold Bitcoin have abandoned their referendum efforts after failing to collect enough signatures. The Bitcoin initiative called for the Swiss National Bank to include Bitcoin in its reserves alongside the euro, the dollar, and gold, but only managed to gather about half of the 100,000 signatures required. Initiative founder Yves Bennaim stated that he knew from the beginning it would be difficult and will now shelve the initiative.