Swiss National Bank Refuses to Include Bitcoin in Reserve Assets

CoinRank News: Martin Schlegel, president of the Swiss National Bank (SNB), said the bank will not include Bitcoin in its reserve assets due to the liquidity of the Bitcoin market and the high volatility risk. He pointed out at the shareholders meeting on Friday that the liquidity of cryptocurrencies during crises is often questioned, and volatility is not conducive to long-term value preservation. According to research by the Bitcoin Initiative, if the SNB had allocated 1% of its holdings in Bitcoin in 2015, its portfolio return would have nearly doubled, with only a slight increase in volatility. Although the SNB has indirect exposure to Bitcoin through holdings in companies such as Strategy, Tesla and MARA Holdings, Schlegel still rejected the proposal of citizens to include Bitcoin in their reserves. (CoinDesk)