According to CoinDesk, the president of the Swiss National Bank (SNB), Martin Schlegel, has rejected the idea of including bitcoin in the bank's foreign exchange reserves. Here are the highlights:
* Rejection of the proposal:
* Martin Schlegel clearly stated that the SNB has no plans to include Bitcoin in its reserves.
* This decision reflects the SNB's conservative approach to reserve management, where stability and security are prioritized.
* Reasons for the decision:
* Probably the main reason is the high volatility of bitcoin.
* Central banks tend to favor low-risk assets such as government bonds and gold.
* It is also possible that one of the reasons is the regulatory uncertainty surrounding cryptocurrencies.
* Context:
* Switzerland is known for its progressive attitude towards cryptocurrencies, but the SNB remains cautious about integrating them into the traditional financial system.
* It is also worth considering that national banks tend to be very conservative in terms of reserves.
This decision highlights the current challenges associated with integrating cryptocurrencies into traditional financial systems.
