Surprise: Bitcoin is not accepted in this country!
Switzerland Steadfastly Rejects Bitcoin in National Reserves
While the US and many other countries push to embrace Bitcoin , the Swiss National Bank (SNB) remains firm.
Deputy Governor Martin Schlegel confirmed that the bank will continue to hold euros and US dollars instead of BTC, despite the global adoption of cryptocurrencies.
Bitcoin does not meet SNB standards
According to Schlegel, Bitcoin is not suitable as a reserve asset because of its high volatility and lack of sustainable value. He emphasized:
“Bitcoin is not a suitable investment instrument for the SNB’s reserves. Its volatility is too high. I also believe that the long-term value of Bitcoin is approximately zero. I still do not see what purpose Bitcoin serves.”
The SNB has confirmed that it currently has no plans to buy any crypto assets , despite a new trend from the US – where regulators have been somewhat more open to Bitcoin in ETFs.
Concerns about risk and sustainability
In previous statements, Schlegel has repeatedly dismissed the idea of Bitcoin reserves, citing volatility, security risks, and regulatory uncertainty .
This view shows that Switzerland – famous as a global financial center – is prioritizing stability over following new trends.