News from Switzerland! 🇨🇭 The Swiss National Bank (SNB), led by its president Martin Schlegel 🗣️, has SHUT THE DOOR 🚪 on the idea of including cryptocurrencies in its currency reserves! 😲 The announcement was made during the shareholders' meeting in Bern on Friday. Schlegel was CLEAR 📢: cryptocurrencies, for now, DO NOT meet the necessary requirements for the SNB's coffers! 💰
The reason? 🤔 CONCERNS about market liquidity 💧 and the LARGE value fluctuations 🎢 that cryptocurrencies typically exhibit! 📉 Schlegel emphasized that the central bank needs to be able to BUY and SELL currencies at ALL TIMES 🔄. The high volatility of cryptocurrencies casts DOUBT 🤔 on their ability to maintain the value of Swiss reserves!💎
But... cryptocurrency defenders DO NOT GIVE UP! 💪 They have been PRESSURING the SNB to consider #BTC as part of its reserves, arguing that the global economic UNCERTAINTY 🌍 caused by Trump's tariffs 🇺🇸 makes it NECESSARY to diversify reserves! 💼 A REFERENDUM campaign 🗳️ has even been LAUNCHED to amend the Swiss constitution and FORCE the SNB to include Bitcoin along with gold 🥇!
Luzius Meisser 🗣️, founder of the #BTC Initiative promoting the referendum, described Bitcoin as a "SPECIAL asset" ✨ and a valuable alternative to traditional government debt 📜. He acknowledged that Bitcoin might not be as valuable in "normal" 🤷♂️ scenarios, but it would be CRUCIAL in a multipolar world 🌐 with LESS trust in government debt 📉!
So, for now, SWITZERLAND SAYS "NO" to #BTC in its reserves! 🚫 Will the pressure from the referendum change the landscape? 🤔 Only time will tell! ⏳
