The Swiss National Bank has clearly rejected the inclusion of Bitcoin as a reserve asset, citing concerns about the stability of this cryptocurrency. This decision represents a significant blow to the hopes of Bitcoin becoming a recognized reserve asset.

Proposals for Bitcoin to be included as a reserve asset have already been rejected in two U.S. states, also due to excessive price volatility and instability.

The proposal for Bitcoin reserves has been made in over 20 states in the U.S., all of which are Republican-led. Many Republican lawmakers themselves hold crypto assets, but still vote against it, citing the extreme fluctuations in cryptocurrency prices; it is unacceptable to gamble with a state's assets.