It is said that the President of the Swiss National Bank (SNB) Martin Sheliel does not want to make Bitcoin backup assets in Switzerland – noting instability and concerns related to liquidity and security risks.
Sildel’s position opposes a suggestion from Swiss Bitcoin Think Tank 2B4CH and other Bitcoin defenders to a constitutional SNB authorization of Bitcoin (BTC) on its public budget.
Sildel first He said The Swiss local media has placed that Bitcoin and other encrypted currencies are very volatile, which does not lead to maintaining the value of SNB investments.
“Second, our reserves must be very liquid so that they can be used quickly for monetary policy purposes if necessary,” Sielgel told Tameia on March 1.
source: Bitcoin initiative
Sildel also indicated that because the programs are working in bitcoin and encrypted currencies, they are inherently vulnerable to errors and artistic weakness:
“We all know that programs can contain other errors and weaknesses.”
While Sildel acknowledged that the encryption market proves its value of $ 3 trillion, the industry is still a “specialized phenomenon” compared to the wider financial system.
The President of the Swiss Central Bank added that he does not see Bitcoin or encryption that is likely to take off the Swiss franc:
“We are not afraid of competition from cryptocurrencies.”
The 2B4ch proposal was set by the Swiss Federal Adviser on December 31, where you will need to obtain 100,000 signatures to be placed on a public referendum.
They have until June 30, 2026, to get 100,000 signatures – about 16 months from now.
Switzerland is 8.97 million, and this means that about 1.11 % of the local population should sign the petition.
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Despite the criticism of Sildel, Switzerland is one of the leading countries to adopt bitcoin – especially in the city of Logano, where the annual “plan” conference is held.
The Bitcoin Reserve is currently being seen in the United States, the Czech Republic and Hong Kong, while El Salvador continues to accommodate at least the bitcoin currency to its treasury, which was launched in September 2021.
Poland I recently ruled out the possibility of making Bitcoin one of the backup assets.
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