The Swiss National Bank has rejected the idea of including Bitcoin in foreign exchange reserves
Date: 2025-04-28 Author: Henry Casey Categories: IN WORLD
The President of the Swiss National Bank (SNB) Martin Schlegel said that Bitcoin will not be used as part of the country's foreign exchange reserves. He explained this decision by the fact that cryptocurrencies are characterized by high volatility and insufficient liquidity, especially during periods of financial crises, which does not meet the regulator's strict standards, Reuters writes.
The Bitcoin Initiative previously presented an analysis according to which adding Bitcoin to the SNB portfolio since 2015 could significantly increase its profitability. According to activists, the increase in risk would be minimal. However, Schlegel emphasized that high trading activity on the Bitcoin market does not compensate for the main threats associated with long-term ownership of this asset.
Representatives of the Bitcoin Initiative also recalled that the United States has begun strategic accumulation of cryptocurrency, and the Bitcoin network has shown high resilience in conditions of market instability. They admitted that the SNB's refusal could be due to political reasons, including the desire to maintain positive relations with the European Union.
It is worth noting that the attitude of European regulators towards Bitcoin remains negative. The President of the European Central Bank, Christine Lagarde, has repeatedly called Bitcoin a speculative instrument associated with illegal activities. In January 2025, Lagarde stated that the cryptocurrency would not be included in the reserves of EU central banks.
At the moment, the Swiss National Bank is already exposed to indirect crypto risks through investments in shares of companies such as Tesla, MicroStrategy and MARA Holdings, which have Bitcoin on their balance sheets. However, the SNB categorically rejects direct investments in crypto assets, adhering to a cautious approach to new financial instruments.
Despite the rejection of Bitcoin in reserves, the SNB does not turn a blind eye to innovation. Martin Schlegel announced the launch of a pilot project aimed at using the central bank's digital currency in settlements between financial institutions.
Let us recall that earlier it became known that the Swiss bank ZKB with assets worth $235 billion opened the possibility of trading Bitcoin and Ethereum for its clients.
