Swiss National Bank chief dismisses Bitcoin reserve calls
The Swiss National Bank rejected calls to add Bitcoin to its reserves, citing stability and security concerns, despite mounting pressure from the local crypto industry.
An official of the Swiss National Bank dismissed calls for the institution to add Bitcoin to its reserves as a hedge against the ongoing macroeconomic turmoil.
According to an April 25 Reuters report, Swiss National Bank Chairman Martin Schlegel said that “cryptocurrency cannot currently fulfil the requirements for our currency reserves” during a shareholder meeting in Bern earlier today. The comments come amid mounting pressure from the local crypto industry to add Bitcoin (BTC) to the central bank’s reserves.
Campaigner Luzius Meisser, a board member of cryptocurrency broker Bitcoin Suisse, told Reuters that “holding bitcoin makes more sense as the world shifts towards a multipolar order.” He claimed that the need is even more dire now that “the dollar and the euro are weakening.”
