Bitcoin Warning Issued by Chairman of Swiss National Bank

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Thomas Jordan, long-standing chairman of Swiss National Bank, has warned about risks associated with Bitcoin

The longest-serving governor of a major central bank is skeptical about recent calls to add Bitcoin to the list of its reserves, Reuters Recently, Bitcoin activist Yves Bennaim has started an initiative to pass a constitutional amendment that would allow the SNB to hold Bitcoin as a reserve asset. The activist aims to collect 100,000 signatures in order to trigger a referendum.MarketWatch that he expects a referendum vote to fail given how conservative the Swiss people are.

The SNB reportedly boasts total gold reserves of 1,040 tons, which makes it one of the largest holders of the yellow metal among major central banks. It also holds foreign currency assets and financial assets in Swiss francs. In March, Jordan said that he was going to step down from his role after 12 years, in a major shakeup. He became the chairman of the Swiss National Bank back in 2012.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.

 

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