Swiss National Bank Chief Challenges Crypto Assets as Reserve Currency – BitRss

Martin Schlegel, President of the Swiss National Bank, shared his views against the proposals to use cryptocurrencies as reserve assets. He stated that cryptocurrencies do not provide sufficient stability as a store of value and pose various risks. Schlegel also expressed his opposition to the proposal initiated by the civil society organization 2B4CH and other communities.

Central Bank’s Perspective

Schlegel highlighted the high volatility of cryptocurrencies, emphasizing their unsuitability for maintaining the bank’s investment value. He noted, “Bitcoin $86,095 and other cryptocurrencies are subject to short-term fluctuations,” indicating that sudden market movements could lead to liquidity problems.