The Swiss National Bank (SNB) has openly declared its hesitation to integrate cryptocurrencies such as Bitcoin into its financial reserves. According to a report by Bloomberg, this statement was affirmed by SNB President Thomas Jordan during the bank’s annual shareholder meeting held in Bern. Jordan emphasized that the bank’s reserves must remain liquid, stable in value, and easily transactable, criteria that he believes Bitcoin does not meet.
During his speech, Jordan explained, “We have so far not decided to invest in Bitcoin and for good reasons. Currency reserves are international means of payment, which need to be liquid, must retain their value and we must be easily able to buy and sell them.” This clarification comes amidst a burgeoning movement within the Swiss crypto community, advocating for the inclusion of Bitcoin in the national reserves.
A group of Swiss cryptocurrency advocates is gearing up to campaign for a constitutional amendment that would require the SNB to hold a portion of its reserves in Bitcoin. The proposal is gaining traction, with plans to collect at least 100,000 signatures in support. Should they succeed, Swiss law would necessitate a national referendum to determine the issue.
At the forefront of this push is Luzius Meisser, chairman of the crypto investment firm Bitcoin Suisse. During the shareholder meeting, Meisser posited that the country’s reserves should act as a “time capsule to send value to future generations,” advocating for the innovative integration of Bitcoin to ensure this legacy.
The Bloomberg report went on to say the movement’s chief campaigner recently disclosed to Neue Zuercher Zeitung that preparations for signature collection are already underway, signaling the start of a significant national discourse. Currently, the Swiss constitution mandates that the SNB maintain a portion of its reserves in gold. The activists are campaigning to amend this clause to include Bitcoin alongside gold, proposing a more diversified approach to national reserve assets.
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