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Bitcoin
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Ethereum
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$4,497.83 -2.50449
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BNB
BNB (BNB)
$920.92 -0.62722
BNB price
Solana
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$233.82 -4.49203
Solana price
XRP
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$3.01 -1.11799
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Shiba Inu
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Pepe
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Pepe price
Bonk
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dogwifhat
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Popcat
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Popcat price
Bitcoin
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$115,195.00 -0.253
Bitcoin price
Ethereum
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$4,497.83 -2.50449
Ethereum price
BNB
BNB (BNB)
$920.92 -0.62722
BNB price
Solana
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$233.82 -4.49203
Solana price
XRP
XRP (XRP)
$3.01 -1.11799
XRP price
Shiba Inu
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$0.000013 -4.98393
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 -7.52904
Pepe price
Bonk
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$0.0000232 -6.24679
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dogwifhat
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dogwifhat price
Popcat
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$0.262873 -7.16637
Popcat price
Bitcoin
Bitcoin (BTC)
$115,195.00 -0.253
Bitcoin price
Ethereum
Ethereum (ETH)
$4,497.83 -2.50449
Ethereum price
BNB
BNB (BNB)
$920.92 -0.62722
BNB price
Solana
Solana (SOL)
$233.82 -4.49203
Solana price
XRP
XRP (XRP)
$3.01 -1.11799
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000013 -4.98393
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 -7.52904
Pepe price
Bonk
Bonk (BONK)
$0.0000232 -6.24679
Bonk price
dogwifhat
dogwifhat (WIF)
$0.874204 -6.18168
dogwifhat price
Popcat
Popcat (POPCAT)
$0.262873 -7.16637
Popcat price

Swiss Central Bank rejects Bitcoin for reserves, citing volatility: report

Jayson Derrick
Edited by
News
Swiss Central Bank rejects Bitcoin for reserves, citing volatility: report

Swiss National Bank Governor Martin Schlegel reaffirmed the central bank’s position against incorporating Bitcoin or other digital assets into its foreign exchange reserves. 

Schlegel expressed concerns to Bloomberg regarding Bitcoin’s (BTC) high volatility, instability, and the regulatory challenges associated with cryptocurrencies. These factors were cited as the main reasons for his position. 

He highlighted that the Swiss National Bank’s reserves are meant to support monetary policy, and he noted that digital assets do not align with this goal.

This position is consistent with Schlegel’s earlier remarks. In a November 2024 event, he expressed caution regarding cryptocurrencies like Bitcoin and Ethereum (ETH), labeling them as niche phenomena unsuitable for payment purposes due to significant value fluctuations.

He also highlighted concerns about the high energy consumption required for cryptocurrency operations and their association with illegal activities, making them difficult to regulate.

Switzerland and blockchain innovation

Despite the SNB’s reluctance to adopt digital assets, Switzerland continues to be a hub for blockchain innovation. 

Recently, the Swiss subsidiary of the Stuttgart Stock Exchange, BX Digital, received approval from the Swiss Financial Market Supervisory Authority to operate a blockchain-based trading system. 

This platform enables direct settlement and transfer of assets using Ethereum-based blockchain technology, eliminating intermediaries and reducing transaction times and costs. 

Nexo also just expanded its Nexo Card to Switzerland and Andorra on Feb. 11 as part of its 2025 Growth Plan. 

The card, which combines debit and credit functions, reached a 62% adoption rate among eligible users in the European Economic Area.