Swiss National Bank Stands Firm against Bitcoin Reserves

The Swiss National Bank (SNB) has rejected proposals to include Bitcoin in their reserves, citing volatility and security concerns. Despite this decision, advocacy for Bitcoin continues within Switzerland, with some proponents advocating for constitutional changes despite the SNB’s stance.  Martin Schlegel, President of the SNB, emphasized that cryptocurrencies currently fail to meet the stringent requirements for currency reserves. While the SNB’s decision did not significantly impact Bitcoin’s market price, it highlights ongoing debates about digital assets and reflects a wider trend in central banks adopting caution regarding crypto volatility and liquidity concerns.  Experts note that this policy has potential implications for the trajectory of cryptocurrency adoption.