The Swiss Central Bank rejected Bitcoin for two reasons.

robot
Abstract generation in progress

The President of the Swiss Central Bank (SNB), Martin Schlegel, stated that cryptocurrencies do not meet the reserve standards of the central bank and rejected the proposal to hold Bitcoin as a reserve asset.

Schlegel stated at the SNB annual general meeting held in Bern on Friday that he does not give any importance to the calls from cryptocurrency advocates to add Bitcoin to reserves alongside gold.

Schlegel, who said, "Cryptocurrencies do not currently meet the necessary criteria for our foreign exchange reserves," emphasized that the liquidity shortage in the market undermines the bank's need to conduct foreign exchange transactions at any moment.

He also stated that the very high price fluctuations have raised serious doubts about the preservation of the reserves' value.

In this meeting, Luzius Meisser, one of the pioneers of the "Bitcoin Initiative" campaign, argued that Bitcoin is a unique asset in the face of economic uncertainties and serves as an alternative to traditional government bonds.

Published: April 26, 2025 14:44

BTC-0.2%
KAR-1.46%
LL2.55%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)