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
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