The Chairman of the Swiss National Bank (SNB), Mr. Martin Schlegel, has rejected calls to add Bitcoin to the national reserves at this time, citing concerns about liquidity and price volatility.

He stated that currently, the liquidity of Bitcoin is very good, but it could become questionable during a crisis, which is why they choose to hold Bitcoin indirectly through shares of MicroStrategy, Tesla, and Marathon Digital (Mara).

It is noteworthy that they cite concerns about liquidity and price volatility, while the reality shows that during panics, Bitcoin is often sold off in large volumes but is always absorbed by the market, and currently, Bitcoin is less volatile than Tesla and MicroStrategy stocks.

If SNB had allocated 1% of its portfolio to Bitcoin since 2015, their portfolio yield would have nearly doubled with very little increase in volatility.