Swiss central bank president refuses to include Bitcoin as a reserve asset, sparking a wave of national referendums!
On April 25, Martin Schlegel, the president of the Swiss National Bank (SNB), stated in an interview that the Swiss central bank does not intend to include Bitcoin in its reserve assets, citing significant concerns about its stability and liquidity.
Schlegel mentioned that the volatility of the cryptocurrency market is too great to meet the standards required for national reserves. Therefore, the Swiss central bank's attitude towards Bitcoin can be described as very cautious when considering reserve assets.
Faced with this situation, local cryptocurrency advocates in Switzerland did not back down; instead, they decided to initiate a national referendum to amend the constitution, demanding that the Swiss National Bank include Bitcoin and gold in its reserves.
One of the initiators of this idea, Luzius Meisser, believes that this could not only help Switzerland cope with the weakness of the dollar and euro but also reduce the political influence brought about by foreign exchange reserves.
When discussing Bitcoin, he stated that as the world trends towards multipolarity, the significance of holding Bitcoin has become more pronounced, especially since Bitcoin's supply is less susceptible to manipulation by politicians compared to the dollar and euro.
However, implementing this referendum proposal is not that simple. The proposal was put forward by the Swiss Federal Chancellery at the end of December 2024, and advocates need to collect 100,000 signatures to push for a real referendum.
This process will undoubtedly attract attention, especially against the backdrop of the changing global attitude towards cryptocurrencies, making Switzerland's move symbolically significant.
Meanwhile, many countries around the world are closely watching Switzerland's actions; for example, South Korean presidential candidate Hong Joon-pyo is also promoting plans to facilitate blockchain development and ease regulations on cryptocurrencies.
In summary, these actions are reminiscent of U.S. policies during the Trump era, reflecting a growing global interest in cryptocurrencies.
What do you think about Switzerland's national referendum initiative? Do you believe Switzerland should include Bitcoin as a reserve asset? Are you optimistic that other countries will gradually promote looser policies on cryptocurrencies? Looking forward to your insights!
