Swiss National Bank President Dismisses BTC as Reserve Asset

Coin Desk

Center

Factuality

Ownership

Swiss National Bank President Dismisses BTC as Reserve Asset

Despite Switzerland’s growing acceptance of cryptocurrencies, SNB's President dismissed them as a niche phenomenon.

SWI swissinfo.ch

Lean Left

Factuality

Ownership

Swiss central bank chief rejects holding bitcoin in reserves

Swiss National Bank (SNB) President Martin Schlegel rejects the idea that the central bank should hold part of its reserves in bitcoin, as proposed by a people's initiative.

Le Figaro

Lean Right

Factuality

Ownership

A popular initiative proposes that Switzerland invest in cryptocurrency as well as gold.

FinanceFeeds

Factuality

Ownership

Swiss National Bank Snubs Bitcoin As Reserve Asset, Citing Stability Concerns

The Swiss National Bank (SNB) has made it clear that Bitcoin will not be used as a reserve asset because of concerns about how stable the cryptocurrency is. Bitcoin’s hopes of becoming an established reserve asset have been severely hurt by this move. This cryptocurrency is worth about $92,294 right now, which is 7.49% more than it was 24 hours ago. Stability Over Speculation: The SNB’s Cautious Approach to Bitcoin The SNB is not sure how safe u…

market-news24.com

Factuality

Ownership

Switzerland Rejects Bitcoin as Reserve Currency: Implications for Cryptocurrency Adoption and Financial Stability - Market-News24

The Swiss National Bank (SNB) firmly rejects the idea of including Bitcoin in its national reserves, citing issues such as high volatility and limited liquidity. This decision comes amidst rising advocacy for cryptocurrency, especially from cities like Zug and Lugano, which embrace digital currency innovations. SNB President Thomas Schlegel emphasizes the risks of accepting Bitcoin, ...

Europe Says

Factuality

Ownership

It is important "that the quality of equity capital is improved," said Martin Schlegel, Chairman of the Board of Directors of the Swiss...