Amid the rising popularity of cryptocurrencies, Luzius Meisser of Bitcoin Suisse has urged the Swiss National Bank (SNB) to consider acquiring Bitcoin, which could have global economic repercussions.
Support for Bitcoin Reserves
Luzius Meisser, along with the nonprofit think tank 2B4CH, is advocating for the SNB to allocate 1–2% of its nearly 1 trillion CHF reserves to Bitcoin. Yves Bennaïm, Founder of 2B4CH, stated, 'We are not saying — go all in with Bitcoin, but if you have nearly 1 trillion francs in reserves, like the SNB does, then it makes sense to have 1–2% of that in an asset that is increasing in value and becoming more secure.'
Opposition from the SNB
SNB Chairman Martin Schlegel has opposed the proposal, citing Bitcoin's volatility and lack of stability. While no direct fund allocations have been made, institutional interest in crypto remains robust.
Impact of the Initiative on Global Economy
The success of this initiative could influence other central banks globally, potentially setting a precedent for cryptocurrency adoption. Recent trading volumes for Bitcoin remain high, indicating sustained demand. Analysts observe that such reserve diversification could reflect confidence in Bitcoin's stability and liquidity, impacting its global acceptance.
The proposal to integrate Bitcoin into Switzerland's national reserves could not only strengthen the country's position in crypto innovation but also significantly affect the financial systems of other regions.
