Swiss National Bank Opposed to Holding Bitcoin as a Reserve Currency

By Reuters
Reuters
Reuters
May 3, 2022 Updated: May 3, 2022

ZURICH—The Swiss National Bank is against buying and holding bitcoin as a reserve currency, Chairman Thomas Jordan said at the central bank’s annual general meeting on Friday.

“Buying bitcoin is not a problem for us, we can do that either directly or can buy investment products which are based on bitcoin,” Jordan said. “We can arrange the technical and operative conditions relatively quickly, when we are convinced we must have bitcoin in our balance sheet.

“But from the current perspective we do not believe bitcoin meets the requirements of currency reserves, that’s why we have until now decided not to have bitcoin on our balance sheet,” he added.

Reuters