Swiss Central Bank Urged to Hold Bitcoin Reserves
- Advocates push for Swiss National Bank to hold Bitcoin.
- Resistance from Swiss National Bank remains consistent.
- Swiss referendum campaign for Bitcoin reserves underway.
Bitcoin Suisse board member Luzius Meisser is advocating for the Swiss National Bank to include Bitcoin in its reserves during a general meeting in Bern.
The Swiss National Bank’s rejection of Bitcoin showcases the ongoing debate around cryptocurrency’s role in national reserves.
Advocacy at the SNB
The Swiss National Bank (SNB) faces advocacy from Luzius Meisser to hold Bitcoin as part of its reserves. During a meeting in Bern, Meisser highlighted Bitcoin’s potential amid global economic shifts.
Martin Schlegel, SNB President, reiterated his stance on cryptocurrencies due to risks like high volatility, underscoring his opposition to reserve inclusion. The central bank’s priorities include liquidity and stability.
Martin Schlegel, President, Swiss National Bank, “For cryptocurrencies, market liquidity, even if it may seem ok at times, is especially during crises naturally called into question. Cryptocurrencies also are known for their high volatility, which is a risk for long term value preservation. In short, one can say that cryptocurrencies for the moment do not fulfill the high requirements for our currency reserves.”
No immediate price impact on Bitcoin was observed following the SNB’s public statements. Campaign efforts persist to trigger a national referendum that could mandate Bitcoin reserves.
Bitcoin’s Role in a Multi-Polar World
Martin Schlegel maintains Bitcoin’s volatility as a critical concern for reserve assets at SNB. Despite Meisser’s advocacy, the current institutional policy remains resistant to Bitcoin inclusion.
Luzius Meisser argues for Bitcoin’s value in a multi-polar world order. Should the referendum succeed, this could mark a pioneering step for national cryptocurrency reserves.
Luzius Meisser, Board Member, Bitcoin Suisse, has stated, “Politicians eventually give in to the temptation of printing money to fund their plans, but Bitcoin is a currency that cannot be inflated through deficit spending.”
Bitcoin Suisse and community advocates like Yves Bennaïm continue to push for broader crypto acceptance. Such developments have yet to reflect as notable market reactions or regulatory changes impacting the immediate crypto ecosystem.
