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Swiss National Bank skeptical on holding bitcoin in its currency reserves

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Buying bitcoin to add to the gold, foreign currencies, bonds and shares the SNB holds in its reserves was not without potential downsides like carbon emissions, chairman Thomas Jordan said

The Swiss National Bank remains skeptical about buying bitcoins, chairman Thomas Jordan said on Friday, despite calls from campaigners to change Swiss law and allow cyptocurrencies to be added to its currency reserves.

“We have not yet decided that we want to invest in bitcoin. Actually for good reasons,” he told the central bank’s AGM. A campaign group wants the SNB to hold part of its currency reserves in bitcoin, and to put the issue to a referendum. One of the campaigners, Luzius Meisser from crypto currency broker Bitcoin Suisse, said the SNB had made massive losses on its investments in government bonds of other countries when it could have made a big profit from buying bitcoin instead.

 

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