TechFlame News – According to Reuters, the Bitcoin Initiative, which aimed to push the Swiss National Bank to include Bitcoin in its reserves, is expected to be discontinued after failing to secure the 100,000 signatures required to trigger a referendum. With the 18-month signature collection period nearing its end, only about half of the required signatures were obtained. The Swiss National Bank reiterated that cryptocurrencies are too volatile and lack sufficient market liquidity to meet the bank’s foreign reserve requirements. Yves Bennaim, founder of the Bitcoin Initiative, stated that while the initiative will not proceed, the discussions surrounding it have made some progress.