Coinspeaker
Swiss National Bank Chief Rejects Calls to Hold Bitcoin as Reserve Asset

The Chairman of the Swiss National Bank (SNB), Martin Schlegel, stated that the central bank has no intention of adding Bitcoin to its reserves due to the stability risks associated with the cryptocurrency.

This comes after the local crypto industry intensified its calls for Bitcoin to be used as a hedge against the impact of U.S. trade policies on Switzerland under President Donald Trump.

On April 25, the SNB’s head told Reuters that he disagreed with the stance of crypto enthusiasts, stating that digital assets do not meet the standards for currency reserves.

During the SNB’s stakeholder meeting in Bern, Schlegel stated that cryptocurrencies do not meet the necessary standards and emphasized the importance of maintaining constant market liquidity for buying and selling foreign currencies.

Proposal for Referendum

In an effort to bring about change, crypto advocates in Switzerland have launched a referendum campaign to amend the constitution, which would require the Swiss National Bank to hold Bitcoin and gold in its reserves if approved.

One of the campaigners for this change is a fo...