The President of the Swiss National Bank rejects bitcoin reserve calls

An official at the Swiss National Bank rejected the Foundation’s calls to add Bitcoin to its reserves as a hedge against the continuous total economic turmoil.

According to Reuters operations on April 25 a report“The cryptocurrency cannot currently meet the requirements of our currency reserves” during a shareholder meeting in Bern earlier today. Comments come amid an escalating pressure from the local encryption industry to add Bitcoin (BTC) To the Central Bank reserves.

Activist Luzius Meisser, a member of the Board of Directors of the Cryptocurrency Bitcoin Suisse, told the broker, Reuters “Bitcoin contract is more logical as the world turns towards multiple poles arrangement.” He claimed that the need is more wonderful now that “the dollar and the euro are weakening.”

This is not the first time that Sildel has fallen against the idea. Reports from early March quoted Chalier, saying that he does not want to make Bitcoin a backup in Switzerland, Quoted from the lack of instability, fears of liquidity and security Risks.

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Switzerland campaign for Bitcoin Reserve

On the last day of 2024, the Swiss Federal Adviser began a proposal to film the Swiss National Bank constitutionally to hold Bitcoin in its public budget. The proposal needs to collect 100,000 signatures to pay a referendum in Switzerland.

The initiative requires changing the third paragraph of Article 99 of the Constitution. The relevant text currently states:

“The Swiss National Bank must create enough currency reserves from its revenues; part of these reserves must be kept in gold.”

If it succeeds, the campaign will lead to the addition of “Bitcoin”. Until the end of the paragraph. The initiative witnessed the participation of Swiss Bitcoin non -profit 2B4CH, which was responsible for preparing and submitting documents. 2B4CH had some relationships with heavy weights in this field, with Giw Zanganeh, Vice President of Energy and Mining at Tether Tether Stablecoin, which helps to launch the campaign.

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The campaign is still ongoing

Maysar claims that the bitcoin contract will free the central bank from the political impact of its foreign business passports, most of which are in the US dollar and the euro. According to him, “Politicians eventually surrender to the temptation to print money to finance their plans, but Bitcoin is a currency that cannot be amplified by spending on deficit.” 2B4CH, founder and president of Yves Pennim, told Reuters:

“We do not say – go to bitcoin, but if you have approximately 1 trillion francs in reserves, such as SNB, it is logical that there will be 1-2 % of that in the original whose value increases, and it becomes safer, and that everyone wants to own it.”

Switzerland is a Blockchain corporate center, with “Valley of encryption” in the town of Zug is the site where Ethereum was established. The nation continues to generate encryption initiatives, with the global grocery giant Spar offers Bitcoin paid payments in the city of Swiss Earlier this month.

Crypting Valley The evaluation mark exceeded $ 593 billionBlockchain growth path in the region in 2024. Last year, the region witnessed the emergence of 17 Crypto starting.

magazine: Crypto Valley and Crypto Oasis: RALF GLABISCNIG