The Swiss National Bank rejected growing calls to adopt Bitcoin (BTC) as part of its reserves for foreign currency, and said that cryptocurrencies do not meet the requirements for liquidity and stability.
SNB chairman Martin Schlegel said during the annual shareholders’ meeting of the Central Bank in Bern, said that the institution needs assets that it can reliably buy and sell, and warned that digital currencies show too much price volatility to qualify.
Schlegel stated:
“Cryptocurrency cannot currently meet the requirements for our currency reserves.”
He mentioned “market liquidity” as a great concern and noted that cryptocurrencies usually show “very, very high” value fluctuations, causing their ability to maintain reserveability.
Campaign for Bitcoin -Adoption
The Push is in favor of the Crypto in favor that the efforts to oblige Bitcoin Holdings through a constitutional change.
Supporters have launched a referendum campaign that requires the SNB Bitcoin to add to its reserves in addition to gold, with the argument that diversification is urgently needed in the midst of the growing worldwide economic risks.
Proponents say that the recent market instability, partly activated by new tariff measures from US President Donald Trump, has uncovered vulnerabilities in traditional reserve strategies and has increased the attraction of decentralized assets such as Bitcoin.
Luzius Meisser, founder of the Bitcoin initiative that leads the referendum drive, appealed the SNB meeting directly. He described Bitcoin as a “special possession” that could serve as an important alternative in times of financial unrest.
Meisser said:
“I have to admit that it may not be worth much in scenarios that most of you normally consider. Bitcoin will be worth a lot in the specific scenario of a multipolar world order with fading confidence in government debt.”
SNB remains careful
Despite the status of Switzerland as a global hub for blockchain innovation, often referred to as ‘crypto valley’, the leadership of the SNB remains strong.
Schlegel’s comments make it clear that the central bank will retain its dependence on traditional reserve baths such as gold and large foreign currencies, unless wider circumstances change.
According to Swiss law, the referendum campaign must collect 100,000 valid signatures within 18 months to force a national vote. If successful, the initiative could mark one of the first serious efforts worldwide to oblige a central bank to keep Bitcoin through legislation.
For the time being, the SNB does not remain convinced and claims that the price instability and liquidity challenges on digital assets are too important to ignore.
