The Swiss National Bank explained why Bitcoin cannot become a reserve asset
Date: 2025-03-03 Author: Henry Casey Categories: CRYPTO PAYMENTS
Schlegel emphasized that BTC does not meet the key criteria for a reliable reserve. According to him, the main problems with Bitcoin are:
High volatility, due to which investments in cryptocurrency carry significant risks of losses in the long term.
Insufficient liquidity, which makes BTC less convenient for reserve savings.
The vulnerability of the blockchain to hacker attacks due to possible errors in the program code.
In addition, the head of the National Bank noted that cryptocurrencies remain a niche phenomenon. He drew attention to the difference in scale between digital assets and traditional reserve instruments. For example, the cost of gold reaches $ 19.3 trillion, while the total capitalization of the crypto market is only $ 2.8 trillion. In this context, Schlegel does not see a threat to the Swiss franc, as Bitcoin is not able to compete with the national currency.
In December 2024, a group of activists led by writer Yves Bennaim initiated a petition demanding that the Swiss National Bank acquire Bitcoin. In order to bring the issue up for discussion, they need to collect 100,000 signatures within 18 months. However, given Schlegel's position, it is unlikely that even if the signature collection is successful, the authorities will decide to include BTC in their reserves.
