Swiss National Bank Declines Bitcoin Reserve Proposal
- Main event involves SNB rejecting Bitcoin reserve proposal.
- Bitcoin deemed too volatile for Swiss reserves.
- Proposal backed by Luzius Meisser faces constitutional hurdles.
Main Content
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On April 26, 2025, the Swiss National Bank declined a proposal to include Bitcoin in its reserves during the annual shareholders meeting.
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The decision holds implications for Switzerland’s reserve policy, with crypto advocates citing global monetary risks.
Swiss National Bank’s Decision
The Swiss National Bank (SNB) rejected calls to allocate reserves to Bitcoin at its annual shareholders meeting. Attendees explored the possibility, yet concerns over volatility and liquidity led to an official decline from bank leadership. Key figures such as Luzius Meisser, spearheading the proposal, urged Bitcoin inclusion citing potential global economic shifts. Martin Schlegel, SNB President, emphasized the need for stable reserves, strategically rejecting the digital asset. He stated, “Crypto assets fluctuate too much. We need stable and liquid reserves.”
Impact on the Crypto Community
The decision immediately influenced the Swiss crypto community, meeting pushback from advocates. However, the broader cryptocurrency market noted minimal direct impact, with Bitcoin prices maintaining stability around $64,000 to $65,000. Financially and politically, the proposal’s rejection reiterates the SNB’s conservative strategy. Advocates like Yves Bennaïm from 2B4CH continue pushing for 1–2% Bitcoin reserves, emphasizing diversification against fiat risks. Bennaïm stated, “1–2% [of SNB reserves] in an asset that is increasing in value, becoming more secure, and that everyone wants to own.”
Historical Context and Future Outlook
Historically, initiatives such as Switzerland’s 2014 Gold Initiative were unsuccessful. The Swiss crypto sector remains unfazed, championing Bitcoin as “insurance” amidst potential monetary instabilities worldwide. Future outcomes could see Switzerland revisiting cryptocurrency policies, potentially influenced by successful referendums. Analysts predict ongoing discussions on crypto reserves might initiate technological, financial, and regulatory shifts.
