Bitcoin is not a worthy spare president, the Private of the Swiss central bank says: Report – TradingView News

Switzerland National Bank (SNB) President Martin Schlegel reportedly does not want Bitcoin to be spare property in Switzerland – stating a lack of stability, liquidity concerns and safety risks.

The SCHLEGEL position oppose the Private Bitcoin Non-Profit Research Center 2B4CH and other BitCoin Proponents for the Constitutional Mandate of SNB to hold Bitcoin Btcusd on balancing.

Schlegel first told the Swiss local media Outlot Tamedia that Bitcoin and other cryptocurries are too volatile, which does not suit for maintaining the value of SNB investments.

“Second, our reserves must be very fluent, so that they can be used quickly for the needs of monetary policy,” Schlegel said Schlegel 1. March.

Schlegel also pointed out that this is because Bitcoin and Cryptocorries managed software, they are subject to errors and technical vulnerabilities:

“We all know that software can have errors and other weak points.”

While Schlegel admitted that the Cripto Market has secured the value of three trillion dollars, said the industry remains a “niche phenomenon” compared to a wider financial system.

The President of the Swiss Central Bank added that he does not see Bitcoin or Crypto potentially not to Detronize the Swiss Franc:

“We are not afraid of competition from cryptocurrency.”

The 2B4CH proposal was set up in the Swiss Federal Office movement 31. December, where 100,000 signatures will be given to be placed on a public referendum.

They have until 30. June 2026. years, to get 100,000 signatures – about 16 months from now.

Switzerland has a large population of 8.97 million inhabitants, which means that about 1.11% of the locals must sign a petition.

Despite the SCHLELELA BED, Switzerland is one of the leading countries for the adoption of Bitcoin – especially in the city of Lugan, where the annual conference plan “Plan ₿” is held.

Bitcoin Reserve is currently considered in the United States, Czech Republic and Hong Kong, while El Salvador continues to agree at least one bit in his cash register, which was launched in September 2021. years.

Poland recently turned off the possibility to make Bitcoin reserve funds.