Swiss National Bank President Rejects Bitcoin Reserves Over ‘Large Fluctuations In Value’

Swiss National Bank (SNB) President Martin Schlegel firmly stated that the SNB has no plans to invest in crypto assets, citing their unsuitability for monetary policy due to value fluctuations, lack of liquidity and an inadequate legal framework.
Addressing the media on Thursday, Schlegel addressed the SNB’s position on cryptocurrencies, particularly in light of U.S. President Donald Trump’s proposal for a national strategic Bitcoin (CRYPTO: BTC) reserve, emphasizing that such assets do not meet the criteria for the bank’s foreign exchange reserves.
Schlegel outlined the specific challenges with cryptocurrencies, stating, “Cryptocurrencies have large fluctuations in value, so this is …Full story available on Benzinga.com

Read Full Article