Swiss National Bank Chairman Affirms No Bitcoin Addition to Reserves

The Chairman of the Swiss National Bank (SNB), Martin Schlegel, has ruled out adding Bitcoin to its reserves, citing stability risks associated with the cryptocurrency. This statement follows calls from the local crypto industry for Bitcoin to serve as a hedge against U.S. trade policies affecting Switzerland.

Key points include:

Schlegel stated that digital assets do not meet currency reserve standards.
He emphasized the importance of maintaining liquidity for foreign currency transactions.

Proposal for Referendum

Crypto advocates in Switzerland have initiated a referendum campaign aimed at amending the constitution to require the SNB to hold Bitcoin and gold in its reserves. Key details are:

Campaign leader Luzius Meisser argues that holding Bitcoin would protect against dollar and euro depreciation.
The proposal seeks to diminish political influence over foreign exchange reserves, unlike traditional currencies.
The initiative must collect 100,000 signatures to trigger a referendum.

Additionally, global attitudes toward cryptocurrency are evolving. In South Korea, presidential candidate Hong Joon-pyo has pledged significant investment in blockchain development and crypto deregulation, reflecting trends seen in the U.S. under President Trump.