- Referendum seeks Swiss National Bank Bitcoin reserve allocation mandate.
- Chairman Schlegel cites cryptocurrency risk concerns.
- Bitcoin demand rises, institutional interest grows, but no financial shifts yet.
The Swiss National Bank faces pressure to include Bitcoin in reserves as Luzius Meisser, a prominent figure in the Swiss crypto landscape, leads this advocacy. The proposal, backed by a referendum, challenges traditional financial norms. Martin Schlegel, the SNB Chairman, dismisses this move, emphasizing the risks associated with cryptocurrency volatility and liquidity. He maintains traditional reserve strategies, despite the pressure.
“Cryptocurrency cannot currently fulfil the requirements for our currency reserves… Crypto assets fluctuate too much. We need stable and liquid reserves.” — Martin Schlegel, Chairman, Swiss National Bank
The referendum requires 100,000 signatures to progress, symbolizing significant public interest. Financial implications loom large; if successful, Bitcoin’s institutional acceptance could increase. However, Volatility concerns persist, echoing sentiments from other major central banks globally. Potential outcomes include heightened Bitcoin adoption, influencing other central banks and solidifying cryptocurrency in mainstream reserves. This campaign spotlights institutional adaptation’s complexity within Switzerland’s evolving financial landscape.
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |