The Swiss National Bank (SNB) has made its stance on Bitcoin crystal clear—it’s not interested. Despite growing global adoption and a push from Swiss crypto advocates, SNB President Martin Schlegel has firmly rejected the idea of adding Bitcoin to the bank’s reserves. In a recent interview, he explained why digital assets don’t make the cut, pointing to volatility, liquidity concerns, and security risks.
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Why the SNB Won’t Hold Bitcoin
Schlegel gave three main reasons why cryptocurrencies don’t meet the standards of a reliable reserve asset:
- High Volatility – Cryptocurrencies are extremely unpredictable, making them unreliable for storing long-term value.
- Liquidity Concerns – The SNB’s reserves must be easy to access and use quickly when needed for monetary policy. Cryptocurrencies don’t offer that level of liquidity.
- Security Risks – Since digital assets rely on software, they are vulnerable to bugs and cyber threats, making them riskier than traditional reserves.