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Swiss National Bank Faces Bitcoin Reserve Advocacy

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by Giorgi Kostiuk

10 hours ago


The discourse surrounding the Swiss National Bank's potential inclusion of Bitcoin in its reserves is intensifying despite resistance. Luzius Meisser advocates for this initiative.

Advocacy for Bitcoin at the Swiss National Bank

Bitcoin Suisse board member Luzius Meisser is advocating for the Swiss National Bank to include Bitcoin in its reserves during a general meeting in Bern. He emphasized Bitcoin's potential amidst global economic shifts.

Swiss National Bank's Resistance

SNB President Martin Schlegel reiterated his stance on cryptocurrencies due to risks associated with high volatility, underscoring his opposition to reserve inclusion. The central bank's priorities include liquidity and stability.

For cryptocurrencies, market liquidity, even if it may seem ok at times, is especially during crises naturally called into question. Cryptocurrencies also are known for their high volatility, which is a risk for long term value preservation. In short, one can say that cryptocurrencies for the moment do not fulfill the high requirements for our currency reserves.CITE_W_A

Bitcoin's Role in a Multi-Polar World

Martin Schlegel maintains Bitcoin's volatility as a critical concern for reserve assets at SNB. Despite Meisser's advocacy, the current institutional policy remains resistant to Bitcoin inclusion. Meisser argues for Bitcoin's value in a multi-polar world order. Should the referendum succeed, this could mark a pioneering step for national cryptocurrency reserves.

The discourse surrounding Bitcoin's inclusion in the Swiss National Bank reserves continues to gain traction, highlighting the divergent views between advocates and opponents of the initiative.

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